Jul 29, 2020
According to Chris Gold will be in the 1967-2000 in the next week or so. Then a pause and pullback. Silver is leading the way. It will hit the $100 mark within a year. Silver will have the biggest financial gain. Next upside target is $44. Currently at a fibonacci number which is resistance.
Bitcoin sold off with the crash and has now recovered and ready for a breakout. Chart is pointing to $14000, with quite a way to go on the upside. Especially now that the dollar is sliding.
Stocks Bad news is good news for stocks. Chris thinks market is on its last leg. Everything right now is pointing to a decline. Less and less stocks are leading. The exect same set up as in February. When things are screaming this loud, you have to pay attention. Put call ratio in dangerous territory. Huge sidways move or a major bear market decline. If things get worse more stimulous and higher stocker. We’re at maximum risk.
Dollar will be under pressure for a while. If there’s market panic, the dollar will rally. The same should happen, which will top off metals and miners. This time around there’s way more stimulous.
Interest rates are low and locked in and no longer a free market. Not good the USD. Quite a bit of upside in bonds. There’s a limit to how much they can move under the circumstances.
Crude is looking good as a short play. It’s losing momentum. It’s on the verge of a drop, on economic weakness. $44 and then a reversal to the downside. Let’s see if jobless claims rising. We have to wait for the pattern set up.
Lot’s more in this extensive interview.