The metals prices traded all night overseas, and barely moved, in terms of $USD. They’re up a bit this morning, but it’s not a recovery, and it couldn’t even be termed a dead-cat bounce. The best we can call it is that prices appear to be stabilizing.
Looking at all of them in stockcharts.com for the P3 Squeeze set-up, it’s evident that a lot of them just commenced to create the squeeze appearance with yesterday’s smash.
Don’t be alarmed or deceived. Gold and silver are real money, and what is going on in the world all around us is only getting worse, as the incredibly screwy policies of the nation’s central banks inflate bubbles in bonds and other asset classes, while investors chase income and return.
In just a couple or 3 days, or so, the 7 indicators within the OEXpert 7 Timer will, maybe, all be resetting, and signaling a low-risk entry. If I have been able to read the charts in such a fashion as to state what appeared to be happening, and recommended action before the event, as I was able to do, then I believe that it’s worth while to continue to monitor this industry group closely, and get involved in future mining share price rallies. The technical damage just incurred will likely require some time to work out, but will also gives us several opportunities to be buyers first.
Here’s to your accumulation of real wealth!
Harold F Crowell