27 June 2016

Gold Daily and Silver Weekly Charts - Wizard of Finance

The Brexit continues playing out.

The professional elite are, for the most part, talking around the matter, and whistling past the graveyard of their own long coming and well deserved demise.  What has been called 'the placebo syndrome' of mindless pursuit of power and goods.

I think if you look at the charts, particularly the gold chart, you can see the preferred levels of support that must be held to make the bullish case.

I have forecasted for some time that the pressures in the physical bullion markets, particularly in London, would be feeling the pinch this month.  And I think we are seeing that, although for the most part, the response of the official powers that be is denial.

This is the nature of the credibility trap.

Have a pleasant evening.