I could write a long, detailed post trying to encompass global stock markets (generally bearish), commodities (bounce very mature) and bonds (mixed views, depending upon the flavor) but that is what I get paid to do each weekend in NFTRH reports and in private posts at the site. The beauty of public posts is that I can write as much or as little as I feel like writing. Today I feel like writing a little about gold (and silver) and the stock market. I also feel like using daily charts because I think time frames are pinching in for upcoming pivotal moves.
Gold is in a rather orderly Handle to a short-term Cup & Handle. Personally, I think gold and the precious metals complex need a correction because [insert CoT, Sentiment and over bought reasoning here]… But the chart thinks otherwise. If the Handle breaks upward and gold exceeds 1300, the measured target is to around 1370. It if goes the other way, watch for support beginning at the October high of 1191 down to 1180, figuring for wiggle room.
