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Back in the channel

Back in the channel

What a night. Things are starting to heat up finally.

Here is a quick update on the USD gold charts. We seem to have found support on the secondary trend line from the last 2 lows in Jan and March. The 5 year down trend line now comes in at approx $1285. Can we bust through this time?

On the daily I’ve marked where I thought we could fall to based on the last 2 major lows at about $1160, but the Trump factor has just kicked in. We might get some resistance at $1285 but if not than it might be clear sky above to $1375.

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  1. Matthew Butler

    I completely agree with Todd! I’ve been checking back most days since your time away mate – always great to have your amazing insight. Even if your pieces are shorter if you don’t have the time, it’s always good to hear from you! You write incredibly well – but I remember you saying that it takes a lot of time – one person I follow does a 5 (to 10 min) video every day where they just talk to the screens and run through the market. Seems to work very well and it’s short/punchy just to kick off each day. Just a thought in case you want to experiment on that (means you can also start building a youtube audience!)

    I see Dave Morgan has called the bottom in the silver market. Yet another person I follow seems to be more saying the S&P will continue higher for the next 2 months with a further bigger fall in silver/gold – before a huge rally after that (they’re also saying they expect the usd to bounce back from where it is right now and it’s just shaking everyone out of the market before going higher)

  2. Todd Steward

    Merchant, I am an avid reader of the posts on your website, i really really miss your posts. You have such profound market insight, keep up the great work, please never stop posting


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