Every day that this USDJPY Highs BS goes on I feel that this bounce/rip-your-face-off rally in Gold that is going to commence only gets bigger and bigger.
Gold has NOT been this OVERSOLD for this long in more than a Decade. I went back and traced the RSI and the only other time period that comes close is late 2014 when Support Held.
Look how oversold this is. I am not sure what it is waiting on (Probably Fed Day Fireworks) but this is starting to be incredible.
I have been talking about it since 1170 really so I have been on the wrong side for 10 points. I still believe you buy this. If it drops 1150 I think you may want to start getting worried and take the 1.5% loss, but the good news…
Silver leads, Miners lead, Gold follows.
Silver Bouncing and Continuing to lead.
Gold ETF held.
Futures are directly tick for tick with USDJPY. This matters and once the USDJPY is not being propped up artificially this will rip and catch up to Silver.