The Time to Buy is Nigh

In a nutshell, simplicity is genius, and I can’t make it any simpler here.

GOLD

Gold bottomed out at 2350. Now, it has hit a double top at ~2500.

We also have multiple negative divergences on the daily chart going back to April. 

The same can be seen on the weekly chart:

However, if Gold is able to rally above 2500 and close up there, and at the same time the daily RSI exceeds 70, the series of negative divergences would be broken.

The daily and weekly MACD Lines in blue looks ready to break the signal lines in red. This would be bullish too.

If or when Gold does break higher, followed by a short-term pullback, we are off to the races imho.

We would need a break below 2377 to negate this forecast.

SILVER

Silver held 27.50, “twice”, and has now reached a double top at 29.30. Next, I expect a drop to 28.50-28.00, then up we go!

The daily chart shows that there is plenty of room on the upside:

All of the indicators are turning up!

Only a drop below 27.50 negates this forecast.

Summary: It certainly appears that the lows are in, assuming we don’t get a stock market crash, and we’re going much higher. Stop losses should be placed below the breakdown levels provided above.

Welcome to wave 3!