Från Morris Hubbartts senaste: Silver Shoots For Lucky Number 7
Technically, gold is on very solid footing. The market is oversold now. Hold your positions. In May, both the “Stokes” and RSI oscillators became heavily oversold, and gold rallied from about $1550 to $1800.
In November, I thought gold could stage another big rally, even though the Stokes were sitting near the 50 level on this chart. A small rally occurred, but now both the Stokes and RSI are set up more like they were in May. I’m predicting a very big rally will occur in January, much like the one that began in the spring.