Are Precious Metals Finally Bottoming?
Early this year, Gold and Silver looked like they were positioned in an outrageously bullish set up (https://markonomics101.com/2018/07/15/inflection-point-part-2-financial-assets-give-way-to-hard-assets/), but until about 3 weeks ago, they had instead, taken a huge nose dive to near multi-year lows.
Recently, with the economic landscape having changed so much, the Precious Metals Sector is showing early signs of a bottom. Relax, they are not “Ascending Wedges”, “Reverse Waves”, or the like. The charts for the sector are all in a “Head and Shoulders” bottom pattern.
Only Silver (SLV) and Platinum (PPLT) have failed to break out above their reverse “Head and Shoulders” bottoms, but they appear ready to join the party. The huge moves in Thursdays’s trading show that this new up-thrust has conviction. The rally in other commodities lends support to the participation of Gold and Silver. Platinum and the GDXJ are leading the way. Finally, both Major Gold and Silver Miners (GDX) and Junior Gold and Silver Miners (GDXJ) are in sync. The likelihood is that the bottom in precious metals have been FINALLY seen and thus these hedges against inflation present a tremendously cheap opportunity for entry, in helping to weather any coming storm.
These are just some of the options we will show you, to benefit from the opportunity of an Inflection Point. Precious metals are the most liquid and should be the first place to shop for inflation hedges. We continue to highly recommend Bill Murphy’s LeMetropolecafe (http://www.lemetropolecafe.com/) as the most comprehensive source of information. He offers a two-week free trial, we subscribe, and for the price, there is no better Gold newsletter on the market.
Time for your due diligence to begin. If you haven’t implemented the steps outlined in (https://markonomics101.com/2018/10/09/how-to-survive-prosper-and-thrive-in-the-coming-bear-market-part-1/), you will remain exposed to this market’s vicissitudes.
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