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Sunday, 09/18/2022 10:54:41 AM

Sunday, September 18, 2022 10:54:41 AM

Post# of 22255
The Tipping Point for Gold

The Tipping Point for Gold
Written by David Brady, Sprott Money News - September 17, 2022

All we’re waiting for is the Fed to just pause. But Gold and the rest of the sector may not wait for the inevitable, much like they didn’t in November 2018 and October 2008, prior to massive new amounts of QE months later.

As I always say, don’t try to catch a falling knife, but wait for a break of resistance. That resistance is 1740 unless Gold falls much further, then 1680 becomes the resistance to break. Then look for a higher low followed by a higher high to signal that the bottom is in. Until then, the trend remains down for now. Whenever that bottom does occur, there is a massive amount of fuel built up for what follows.

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