Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Modest Gains on the Week
By: Chris Mullen, Gold Seeker Report

Gerald Celente: Fed May Bring Down the Economy, Crash Markets
By: Mike Gleason

COT Gold, Silver and US Dollar Index Report - September 21, 2018
By: GoldSeek.com

GATA appeals to the new Shareholders Gold Council
By: Chris Powell

A Constructive Suggestion
By: Theodore Butler

Gold Exodus to Reverse
By: Adam Hamilton, CPA

Signals for the Coming Crash in Stocks and Rally in Gold
By: David Brady, CFA

Trade War vs. Commodities
By: Louis James

GATA asks CFTC if market rigging by U.S. govt. is legal
By: Chris Powell

Is This Time Really Different? Fed Tightening and Gold
By: Arkadiusz Sieron

 
Search

GoldSeek Web

 
Time To Lay Low


 -- Published: Friday, 22 September 2017 | Print  | Disqus 

Even though we've tried to warn and prepare, none of that makes the inevitable Spec wash-and-rinse any easier to watch.

At the end of the day, it just is what it is. The year 2017 has unfolded almost precisely as we initially forecast back in January with two steps back following every three steps higher. We had carried a target of new highs for 2017, near $1320, through this most recent rally that began on July 10. That we instead reached $1360 was just a bonus, I guess.

From here and with Bank NET short positions hitting extremes over the past two weeks, we must expect further downside as Specs continue to be washed out and USDJPY/CDG reacts negatively to any hint of positive economic news that serves to reinforce Mother's hogwash of yesterday. As we discussed in yesterday's podcast, this period of frustration could very well last all the way through the next BLSBS two weeks from tomorrow. Once that's behind us...and hopefully haven't fallen too far from here...the stage will be set for the final three-steps-forward part of this year's pattern.

So, how far is "not too far from here"? Well, in CDG we've been mentioning the 50-day moving average as being the first target for The Banks. As of today, this level is $1291.30 and thus far we have a low in the Dec17 of $1292.06. See below:

https://www.tfmetalsreport.com/sites/default/files/users/u2/2011/screen_shot_2017-09-21_at_9.27.04_am.png


| Digg This Article
 -- Published: Friday, 22 September 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.