$2600 Gold with Chris Vermeulen #5232
Summary: Is the gold slam over, or is there still more to go? Today, Chris and I comment on the recent ding to the metals as well as updates on the dollar and Bitcoin to catch up on currency. As expected, there is a lot of panic around the circumstances of the metals, but this is a \u2018golden opportunity\u2019 to buy. The dollar is back up to resistance trying to break out, and could perhaps rally about 2% from where it is now. In the case of Bitcoin, it\u2019s back on an up trend now, and can be projected by way of technical analysis. Tune in to get clued up on all things currency and to hear Chris give us some valuable insight on trends in monetary value. Highlights: -It\u2019s been a bloodbath in the gold markets -Metals are getting clobbered\u2014gold was down 5% at one point -A lot of people are nervous; gold has fallen so much in the last month and a half and has many selling -While people are panicking, it\u2019s a \u2018golden opportunity\u2019 -This should resolve to the upside eventually, but it has to work itself up -Gold has been trading sideways and drifting lower, which is a strong pattern -Since last August, we\u2019ve seen Silver trade sideways -This is a great opportunity for precious medals investors to add to their stacks -These patterns point to higher prices -Based on the patterns, it will probably take 1-2 years to see their break-out in run -What\u2019s going on with the dollar? When you look at the chart, it has been trying to put in a bottom for all of 2021 -dollar is back up to resistance, trying to break out -we could see the USD rally about 2% from where it is now -Chris thinks the dollar will be topping out at the next resistance level -What are we seeing with Bitcoin? Is the damage over? Bitcoin corrected about 54% from the highs. It has been trading sideways, trying to carve out a bottom -Which way is this pattern going to break? It\u2019s back into an up trend now -We can use technical analysis to figure out where this upside is going to start -Fibonacci extension can tell us where the next resistance level is going to be Useful Links:The Technical Traders Financial Survival Network