Thursday, December 22, 2016

Did Gold Bottom on 12-15-2016?

First of all:
He definitely made a similar call for December 3rd of last year.  He primarily does dates and not prices, although he keeps saying Dow 20K first (not sure why).


This is not a unique few days, there have been many which have not resulted in a bottom.  There's no technical indication of anything that I know of, but there might be one very soon if it breaks up above this post-Trump top line. 


The 50 Day and 200 Day moving average cross towards the beginning of this chart is known as a death cross, but maybe the death is fulfilled?


Maloney and Armstrong both think it will drop some more, mostly due to lack of support at this price, but I don't consider that worth much.


If I had to guess, even money, I'd probably say this will turn around, but, it's like a 51% confidence and I'm not going to play anything yet. 

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