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Traders Panicking EVerywhere, Gold Chart

Commodities / Gold and Silver 2016 Jun 05, 2016 - 05:36 PM GMT

By: Gary_Savage

Commodities

I see traders everywhere panicking. People are acting like they’ve gotten left behind. Nothing could be further from the truth.

While I’m skeptical that gold has made a final intermediate cycle low because it hasn’t dropped far enough to break the intermediate trend line yet, and the dollar should still have another leg up this month, the reality is that gold is only on day 3 of this daily cycle.


If this is a new intermediate cycle it has at least 13-16 weeks left to rally and will easily test $1400. No one has missed anything yet.

In this weekend’s report I will go over what I’m going to look for early next week to tell me if this is a new intermediate cycle, or just a very convincing fake out.

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Gary Savage
The Smart Money Tracker

Gary Savage authors the Smart Money Tracker and daily financial newsletter tracking the stock & commodity markets with special emphasis on the precious metals market.

© 2016 Copyright Gary Savage - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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