08 February 2016

Gold Daily and Silver Weekly Charts - Flight to Safety, the Cup's Rim Is In

Gold spiked higher towards $1200 today on market troubles and a weaker dollar I might add.

It seems like the currency war is going through one of its hot spells.

Silver even managed to chalk up a decent gain, and is forming a little 'bowl' formation of its own on the weekly chart no less.

Gold is now quite technically overbought in the short term.  Let's see if we get a retracement or some other sort of action.  In the short term anything is possible.

I know I am not saying so much this year.  Perhaps that is just because the time for talking, for letting people know what was going on, was last year's business.

If you have listened to what the markets have been saying, if you have seen things with open eyes, then you ought to be mostly set, as best as you can.

And if you did not listen then, and kept running to see what the trolls and apologists were saying, looking for diversion and excitement, why would you listen to anything of substance now?   You will always find an excuse, always do what you have been doing all along, until you cannot.

Have a pleasant evening.