When we look at precious metals, one would expect this is the long-awaited breakout for gold. Yet there is something amiss. The Yearly Array still points to a Turning Point here: 2024 with a Directional Change. That would imply that we may be looking at an important high come Monday if we reach at least 2673, or making highs after Monday may lead to the final high on August 28th, which may be more likely. The major resistance stands at the 2800 level. However, the initial target resistance for this coming week stands at 2573, 2589, 2695, and 2705.
Platinum is not following gold and implies it may yet test support into 2025 before a rally unfolds. Note that we have a Directional Change here in 2024 as well. However, it appears to be a low forming in 2025 and a shift to the upside thereafter.
Platinum is not following gold and implies it may yet test support into 2025 before a rally unfolds. Note that we have a Directional Change here in 2024 as well. However, it appears to be a low forming in 2025 and a shift to the upside thereafter.
When we turn to the Silver/Gold Ratio, we see a Double-Directional Change in 2024. The Stochastic is starting to turn down, implying that gold may decline, but silver will gain on the ratio. This is pointing to a more sustainable bull market in the years ahead [...]
Before a sustainable bull market exists, there is always the FALSE MOVE; in this case, it looks to be shaping up to the downside. This may present an important buying opportunity as we head into the election.
