Stocks and commodities are under pressure from the rising dollar. We have already seen a sizable pullback but there may be more to come in the next few trading sessions. While my negative view on stocks and precious metals will rub gold and silver bugs the wrong way, I just want to point out what is unfolding so everyone sees both sides of the trade. Let’s take a look at some charts and dig right in. Words: 222
So says Chris Vermeulen (www.thegoldandoilguy.com) in edited excerpts from his original article*.
Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
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Dollar Index Daily Chart:
SP500 Futures Index Daily Chart:
Silver Futures Daily Chart:
Gold Futures Daily Chart:
Crude Oil Futures Daily Chart:
Overall, the charts are starting to look very negative which the majority of traders/investors around the world are starting to notice…Now that the masses are starting to get nervous and are beginning to sell out of their positions, I am on high alert for a panic washout selling day…when everyone around the world panics at the same time and bails out of their long positions [causing] prices to drop sharply and volume to shoot through the roof.
Hold on tight as this could be a crazy few trading sessions.
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The Chinese and Indian stock markets have dropped over 20% in the last 6 months meeting the common definition of a bear market. Last week both of them tumbled further to below their lows of more than two years ago contributing significantly to the recent major sell-off in gold. In fact, elevated risk of housing and credit bubbles in China and India is creating the next financial perfect storm – which does not bode well for gold or silver. Words: 632
With what is happening with the price of gold these past few days it is imperative to take a look at the long and short of it all (the trends, that is). In doing so it shows that we are still very much in a long-term bull market but in a short-term (yes, short-term) bear market. Let’s take a look at some charts that clearly outline where we are at and where we could well be going. Words: 625
In the long run developments in the financial markets and around the world seem to conspire to whip up a perfect storm for the gold price, taking it up towards $2,000 and further. That new upleg, however, could very well start from a much lower level than now. There are quite a few developments that could easily send the gold price lower in the coming months. Is $1,200 gold in the cards? Words: 739