Gold GOLD PRO WEEKLY, March 23 - 27, 2020

Sive Morten

Special Consultant to the FPA
Messages
13,142
Greetings everybody,

On Gold market situation calms down a bit as gold has created the new top. At least, this curious tails indicating extreme demands disappeared now. Probably market could get some relief as we're coming to weekend. Now investors scare a bit of weekends as never know what will happen - somebody could tell something, some new measures could be adopted etc. Thus, on a background of this uncertainty , gold could show minor retracement.
Still, as we said yesterday - H&S pattern on daily chart is almost doomed and we call to not take any shorts despite that we're at daily overbought:
gold_d_27_03_20.png


On 4H chart our short-term plan done perfectly - pennant was broken up and gold set new local top. Its great if you could make some money on it, but our primary object to get some pullback still, where we could consider better and longer-term bullish position:
gold_4h_27_03_20.png


Thus, on 1H chart MACD shows divergence, bullish dynamic pressure is done - let's see, whether gold will get some relief and drop at least to 1560 area or not:
gold_1h_27_03_20.png
 

minimax

1st Lieutenant
Messages
1,436
Man is this The dollar milkshake theory profound and Brent J. could really be enormously right in the future.
He says:
If you look at the Comex and there is like 180 times demand for physical (gold) as it is actually physical stock at the Comex and people are saying it will go to 50.000 and they are right, I completelly agree.. (BUT he does not tell if this started already or will today, next week, he does not tell if the (paper) gold buyers are alreday willing to stay long in futures contratcts and wait for whatever the future will bring in next years, this is upon us to evaluate).

In very last video Brent Johnson (Dollar, Stocks, Gold) The Rebel Capitalist Show Ep. 28!
he talks about overall situation and about helicopter money and MMT and situation between FED and treasury too:
I think next 2 – 3 years are not about valuation, about fundamentals, it is about survival, next 2 – 3 years are going to be incredibly painfull on global scale… What cause this situation is a global margin call on the dollar, simple as that… It is a liquidity issue and the reason there is not enough liquidity is that there is not enough dollars (…) inside USA and ceratinly outside USA.. there is only about 4 trillion dollars that actually exist, that the monetary base (base money)..(..) everything else is loaned into existence of the base money.. it is like music chairs – as long music plays it is OK.. There are only two methods money is been created: you can either print it or loan it.. (…) .. In MMT (Modern Monetary Theory or Modern Money Theory) they just tell the bank there is a 1000 dollars check, or the person. (..) I think MMT is going to create battle between central banks and fiscal authorities.(..) When they write these checks to people that is gonna come from treasury it is not coming from FED.. this is where treasury does the magic show the way that FED currenty does.. I encourage people to read upon MMT because it is the point, money is going to be spin into existence rather than loan into existance and it is added to the national debt.
 
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