Fake employment reports, endless wars, a soup kitchen called the Fed, free speech in a garbage can, and a soaring US stock market that supposedly proves that all this madness is sanity…
Now, gold is drifting sideways while oil is aggressively rallying from my $65 buy zone. Will this action continue? This long-term chart suggests that a short-term fade in US inflation and growth will produce a dip in rates… It could take a few weeks until US rates arrive at their H&S top neckline and gold’s oscillators become oversold, but there’s no reason for investor concern…Short-term top patterns on the miners are expected to form as gold becomes overbought… especially if gold stocks are arriving at previous highs of significance, which is currently the case with GDX.
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