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Martin Armstrong: Gold Update February 6th, 2017

* February 6, 2017

Gold failed to elect the Weekly Bullish Reversal last week but has still moved higher. The technical resistance stands up at 1253 area while our model places resistance at 1239 followed by 1257. We have run our What-If Models assuming higher highs this week and the Weekly Bearish Reversal that would be generate would come in around 1217.50 level.

Most markets are showing April/May as a rather critical period. This coincides with the next election in our series of the Political Year from Hell - the French election. A post on that will be on the main blog tomorrow explaining the issues at stake in France. Keep in mind that a Le Pen victory will signal that the euro will most likely collapse sooner than later. We will also explain the implications of this regarding NATO and the war cycle.

We are preparing the 2017 Gold Report, which will be rather important giving the shifts we see in the global capital flows. Remember that the backbone of gold has nothing to do with normal wedding demand from India or Arabs suddenly being allowed to buy gold. Gold rises ONLY exponentially when there is a collapse in the overall confidence of government. That is what this Trump Revolution is all about on a global scale.

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