Gold: Seasonal Rally Begins Today?

Dec 15, 2020

1. Gold often begins a significant seasonal rally around the time of the Fed’s December meeting.

2. The next Fed meet begins today… and gold is up nicely this morning!

3. Please click here now. These seasonal rallies are likely related to Asian buying for Chinese New Year celebrations, and Goldman’s physical gold ETF announcement is timely.

4. Please click here now. Double-click to enlarge this fabulous gold chart.

5. I’ve used vertical blue lines to highlight the seasonal rallies that typically begin in December. It is ultimately unknown if another great rally is about to begin, but investors are looking good if they followed my suggestion to buy the $1788 area.

6. I’ve also highlighted an enormous inverse H&S bull continuation pattern on that chart.

7. The target of the pattern is $3000.

8. Please click here now. Double-click to enlarge. This gold chart provides key buy and sell zones for investors to focus on right now.

9. I won’t label any rally as “officially underway” until there is a forceful upturn on both 14,5,5 series Stochastics oscillator and the key moving averages (5,15 series).

10. The good news is that those upturns usually happen after the price begins rallying from key support like $1788, $1704, or $1666!

11. Please click here now. Double-click to enlarge. In this reaction, silver continues to look stronger than gold.

12. That’s a good sign that the entire precious metals sector is very healthy.

13. Fundamentals? Well, the entire global economic recovery has been funded by outrageous amounts of money printing and debt.

14. Also, many emergency care workers have expressed concerns about the Corona vaccines.

15. It’s understandable that governments believe these vaccines will do more good than harm, but virus mutation could render them less helpful and potentially useless.

16. The long-term dangers are unknown, for the vaccines and for Corona itself. The bottom line:

17. Gold and silver look solid from a seasonal, technical, and fundamental perspective!

18. Please click here now. Double-click to enlarge. Another great sign of overall metals market health is the CDNX.

19. Not every gold bug is comfortable owning junior miners, but everyone should keep a watchful eye on the price action of the CDNX venture stocks index!

20. For good tactics to handle the wild volatility of small mining stocks, investors can check out my junior resource letter.

21. Please click here now. Double-click to enlarge. This GOAU ETF has an inverse H&S pattern in play.

22. The neckline is a bit droopy, but the current reaction is “long in the tooth”.

23. Given the incredibly positive gold market weekly support, resistance, and seasonal charts, that neckline is not a concern.

24. Simply put, a blast above $20.49 for GOAU looks imminent, and the price action of the CDNX index indicates that 2021 should bring lots of golden fun!

Thanks!

Cheers
st

Dec 15, 2020
Stewart Thomson
Graceland Updates
website: www.gracelandupdates.com
email for questions: stewart@gracelandupdates.com
email to request the free reports: freereports@galacticupdates.com

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321gold Ltd