Friday, September 8, 2017

Gold: Mother of all bullish patterns forming

Interesting technical take on gold price from Kimble Charting Solutions.

A reverse head and shoulders pattern seems to be forming in gold. If the gold price is able to close above the "neckline" than it could be off the races:

President Trump will be appointing a new majority of Fed governors including a new chairman and vice chairman. President Trump likes to use debt as has been his history in the private sector.

That propensity for debt and the fact that the US is entering its terminal phase as applies to forced entitlement spending means a whole lot of debt that will need to be monetized.

I do not anticipate he will be appointing ‘hawks” to the FED. That will be great for gold and after six down years it looks like a new gold bull market could be kicking off.

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