Given the wild market action and the solid tactics we use with items like GDXU, OILU, TQQQ, AGQ, I’m doing a $249/4mths special offer until Friday this week.
My swing trade newsletter offers great value at $269/3mths. The stock, commodity, bond, and gold markets are gyrating wildly, and I’ll dare to suggest that action is about to intensify. While silver has been the superstar this week and looks to be heading “ much higher”, there’s profitable fun to be had in trading this awesome metal too. Double-click to enlarge this AGQ leveraged silver chart. Oil stock enthusiasts may feel compelled to buy more of their favourite stocks right now… and rightly so!. Note the beautiful gapping action and the bullish triangle in play. Double-click to enlarge this enticing XLE chart. What about the oil stocks? Well, please click here now. There was a bull wedge breakout yesterday and a move above $85 resistance could usher in a thunderous rally back to the $130 area highs. Double-click to enlarge this bullish oil chart. The bottom line: The price of oil, and global inflation, are poised for a fresh surge to the upside!. Tomorrow’s OPEC meeting (that brings perhaps a million bbl/day supply cut) roughly coincides with the US government’s promised end to the one million bbl/day draining of the nation’s strategic reserve. It’s now reaching a hideous crescendo in Ukraine. It happened in Vietnam, Panama, Iraq, Syria, Libya, and many other nations. Western government war mongering is relentless. Even if their sanctions and wars freeze millions of their own citizens to death in the winter of 2024 and create riots bordering on civil war in 2023. Unlike the world’s richest man who is the defacto and sensible leader of the green energy revolution, the fiat obsessed governments of the West have no interest in peace for the poorest nation in Europe… GOLD PRICING DRIVERS
It clearly reflects the big fundamental drivers in play!.The right side of the chart is a bit droopy, but it has the shape of a continuation pattern rather than a reversal. To view one that arguably is, please click here now.This is a very positive chart, but certainly not something that could be called the greatest chart in the history of markets. Note the fabulous inverse H&S pattern on the Stochastics oscillator at the bottom of the chart.Gold’s mighty rally from the $1610 buy zone has been so powerful that $1675 is becoming support again too!
For a look at the weekly chart, look here: Double-click to enlarge.A week after I suggested the false breakdown/buy into $1610 scenario, it’s played out even more gloriously than I envisioned. Double-click to enlarge this majestic gold chart. It’s the reason I urged Western gold bugs to consider the move under $1675 as potentially a false breakdown that could be reversed violently… and to buy the miners and silver as gold approached $1610. The intensity of these four gold price drivers is astounding.The 2021-2025 war cycle, inflation, energy transition, and empire transition are a perfect “ golden storm”.
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