From Clive Maund:
“Gold and silver now critically oversold at strong support, dollar overstretched…
Please be aware that we could see a really big bounce in Gold and Silver here, and possibly an important reversal…Gold and silver are right at strong support at their September lows, and critically oversold short-term as
shown by their RSI indicators…the Dollar is showing signs that it is
about to react after an incredible 13 up days in a row (trading days),
with a very large white candle appearing on its chart on Tuesday,
followed by a candle that approximates to a bearish “hanging man” – it
is critically overbought on its RSI so its certainly a good time for it
to take a breather…the “talking heads” on the major financial networks
were starting to grudgingly acknowledge the possibility of QE coming to
the rescue of the world economy, and it is quite clear that the moment
the markets get the scent of the spigots being opened we could see a
humongous rally, especially in the trampled down commodities sector…
Right now we are heading towards deflation – this is why the markets
are going cold turkey…they are clamouring for another fix – everything
now depends on how long our illustrious leaders can hold out before
caving in to their demands…we must watch carefully for the first real
signs of them doing so, this will be the point the tide turns…the
charts suggest that there is a possibility of this occurring very soon”
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