Stewart Thomson
email: stewart@gracelandupdates.com
email: stewart@gracelandjuniors.com
email:admin@guswinger.com
Dec 1, 2020
The US election is still being disputed by republican fiat bugs, but it looks more and more likely that democrat fiat bugs have won.
In the world of private money (gold and crypto), elections also take place... at major support and resistance.
These are the most important action zones for gold and crypto enthusiasts.
If investors act professionally at these zones, substantial wealth can be created and retained.
Please click here now. Double-click to enlarge this important weekly gold chart.
The price of gold has arrived at the major support zone of $1788, an event that I suggested investors prepare for when the price was near $2000.
Investors must now“elect” to buy, sell, or do nothing. I’m buying modestly, and that’s my recommendation for all gold bugs of the world.
It’s unknown whether gold now rises to significant resistance at $2000-$2089, or it eases down to significant support at $1666.
Higher price enthusiasts do have the appearance of some green shoots on their side:
Technically, my important 15,5,5 Stochastics lead line is oversold and beginning to turn higher.The $1788 price zone may not be the exact low of this reaction, but it’s highly likely to go down in history as a spectacular buy zone for serious gold bugs!
Seasonally, the December time frame is often a launch pad for significant rallies.Chinese citizens buy to celebrate the New Year and Western hedge funds often get caught in a short covering rally.
They then rush to buy, and that can create some very intense upside price action.
Please click here now.Fundamentally, the vaccine news is probably fully priced into the gold price.Money printing, debt, and the slowing U.S. economy are coming back into focus as key gold market themes.
“Storm clouds are gathering.This winter could pose an unusual challenge for many people across the country, unless Congress takes significant actions.” - George Ratiu, senior economist at realtor.com, Nov 30, 2020.
Unfortunately, the actions being recommended by economists like Ratiu are mostly debt oriented.
Please click here now. Double-click to enlarge.GOAU is one of my preferred mining and stock ETFs that I’m using for accumulation in the gold $1788 buy zone.
Note the bullish action of the RSI oscillator versus price, and the oversold position for Stochastics.Thanks!
Cheers
st
Dec 1, 2020
Stewart Thomson
Graceland Updates
website: www.gracelandupdates.com
email for questions: stewart@gracelandupdates.com
email to request the free reports: freereports@gracelandupdates.com
Tuesday 1st Dec 2020 Special Offer for 321Gold readers: Send an email to freereports@gracelandupdates.com and I'll send you my free "Gold Stocks Now!" report. I highlight key miners trading under $10/share to buy here in the gold $1788 zone, with key risk and reward management tactics for each stock! Recent NewsMonetary-driven precious metals outperform major base metalsSeptember 09, 2024 / www.canadianminingreport.com
Gold stocks hit by plunging equities marketsSeptember 09, 2024 / www.canadianminingreport.com
Gold stocks down as metal and equities momentum fadesSeptember 02, 2024 / www.canadianminingreport.com
Another Kazatomprom guidance announcement shakes uranium priceSeptember 02, 2024 / www.canadianminingreport.com
Major monetary drivers still supporting goldAugust 26, 2024 / www.canadianminingreport.com
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