Yuck.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
A Holiday Worth Celebrating
Gold & Silver Big Picture
Excerpted from the October 2 edition of Notes From the Rabbit Hole, NFTRH 725:
Gold & Silver
Gold and silver (monthly chart) continue in the cyclical bear that started in mid-2020. I had originally (and incorrectly) projected a Cup & Handle for gold that had to be revised to a double top when the 2022 high failed to gain blue sky. I’ve left the Cup drawn on the chart but that is no longer a handle of any sort. It’s a mess, actually.
The next technical target for gold is support in the 1500s per this Sept. 15th update [password protected]. Also note that the update included an extreme downside below 1300. While not overly likely (IMO), that would put a hard test on the bull market, which was indicated when gold took out the 1378 “bull gateway” (the bull/bear line shown below) in 2019.
As for silver, it continues to hold important long-term support at/around 18 after making a quick breakdown and reversal.
(more…)Zesty Week Ahead
Gold Ready to Drop (by Xerxes)
Gold has burned me a few times this year. I caught a decent run on it as it reached its final peak when Russia invaded Ukraine earlier this year, but it has consistently failed me since then (I think I broke even after all was said and done). As such, I haven’t paid too much attention to it other than to watch it try to make a move on some volatile days. I did, however, pay attention to the past two tests of 1680, the latest of which broke down through.
