Looking to Break the Gold Ceiling“Given the setup, from both a positioning standpoint and the action in the miners, the rally ought to continue for quite a while and go a long way, although the metals will remain volatile and try to trick as many people as possible. Nonetheless, this is the best chance we’ve had to see all the “magic” trendlines above the market (i.e., $1,350 to $1,370) finally get taken out. But, as they say in AA, “One day at a time.”— Bill Fleckenstein
By Bill Fleckenstein President Of Fleckenstein CapitalMay 29 (King World News) – The Dow and S&P lost between 0.75% and 1% early on, while the Nasdaq barely flinched. The proximate cause for the decline appeared to be weakness in Europe, which of course is emanating at this moment in time from Italy, as once again the concept of the European Union is being threatened. However, I suspect it was really just time for the rally to roll over and this was the excuse..."
at https://kingworldnews.com/is-the-gold-market-finally-setup-to-break-the-gold-ceiling/
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