What will be the sign that gold is fully back in a bull move?
*Jim Sinclair's MineSet, by James Sinclair, November 28, 2006
“Today’s dollar market confirmed a return to the full bear market. That means the rally that took place was a dead cat bounce in the surrounding very long term bear market. The rally was not able to reincarnate the bull market. Further, it means any upside in the dollar is a shorting opportunity using simple trend lines as your guide.
It follows that if the dollar has signaled a full return to the BEAR side then gold is about to signal a full return to the BULL side.
All that is required is a close above the intra-day high of $641.30 in order to confirm that the recent bottoms are the bottom and that the bull is back in full control.
I really can’t stand the if this happens do that and if that happens do this. I always wish people would say what they believe as the above in TA nonsense.
So here it is. Gold is fully back in the bull move and the dollar is fully back in the bear move.
Hold on to your position and sell 1/3 only on the overbought side of the power up trend channel.
*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.