Market Analysis by covering: Gold Spot US Dollar, Silver Spot US Dollar, Dow Jones Industrial Average, Gold Futures. Read 's Market Analysis on Investing.com
Stocks end bruising March with a euphoric relief rally on de-escalation hopesA look at the short-term gold chart. A nice ascending triangle is in play, and the target is the $5000-$5100 zone. That’s a solid gain for gold investors who bought the price sale into the $4100 area, when I urged them to buy.
Excitingly, gold is still in a buy zone… even after this $400/oz surge from the low!Also, note that MACD is currently the most oversold in many years, as is Stochastics . The same is true for the key RSI oscillator.Like gold, the oscillators for the Dow are oversold and the 45,000 level is very solid support. In a technical analysis nutshell, gold is the rocket on the launch pad, and the US stock market is the booster for the rocket! What about the fundamentals? The US government is trying to talk the market up. It’s a lot easier to do that when the Dow is at a big zone of supportIt’s unknown whether there will be a US-Iran deal, let alone soon, but one is certainly needed. Oil executives feel that if Hormuz isn’t opened, it could only be a few more weeks before the supply shortages hitting most Asian citizens would hit citizens in the West in a similar way.Interestingly, the US central bank appears to be downplaying the debt-funded war and fast-developing stagflation.Airlines are hiking fees, Hormuz crossings have dropped from 150 ships a day to about 5, and yet Fed boss Jay acts like everything is fantastic. The stock market is likely poised to soar to a fresh high, and oil would likely drop to $80-$70 as that occurs but... From there, Western money managers will likely learn the hard way that soaring oil prices, stagflation, outrageous debt, and war are no longer the big sell signals for gold they once appeared to be.Currency market reality is the opposite of how it is portrayed. Hardcore gold bugs know that gold is the superior currency, so it’s fiat that should be used to make “The bottom line is that a technical trifecta is in play. The Dow, gold, and GDX are all hitting support with oscillators showcasing buy signals... at the same time.Momentum players can be eager buyers today. I’m a US stock market buyer , a gold buyer, a silver buyer, and a mine stock buyer, in “” size. I invite gold bugs of the world to say good-bye to some of their fiat, and engage in some wonderful buy-side fun!Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
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