Getting Ready For a Big Week
Sorry for the late update this morning. Lots going on in my personal Turdland and I'm just now getting an opportunity to post some charts. That said, we are off to a great start and this week may become rather consequential as we go along.
When I say "great start", I'm referring to the action before the Comex opened. As you can see on the charts below, once the Comex opened, The Cartel acted swiftly to cap gold at 1665. They got a little help from a rallying POSX, which tripped a few WOPRs and pushed things down a bit. No matter. I like these charts a lot. The cap at 1665 looks to fail soon, maybe overnight tonight. Gold will then move toward 1680 and the real battle will begin.
Silver is being aggressively capped by the EE at the area around 30.50. Why they've chosen to set up shop there is beyond me. A much more significant battle will be fought around $31. Like gold, I expect silver to soon breach the EE lines and head in that direction.
As noted above, I think the stage is being set for a very big and consequential week. I want to see where we finish the day today before making any bold proclamations, however. Check back this afternoon and I'll go into greater detail and provide you with some more charts. TF