What a change in administration means for Precious Metals
it's all academic, interesting theorizing and all, but i stick to the numbers and charts. This morning before 9 the breakdown signified lower prices, but the price action since mrkt open has nullified that and made silver bullish. so, i'm long in spite of what i think the fundamentals say. silver moving above 35.215 says bulls have mustered some energy for another shot up
First, this morning's fundamentals signified higher prices, not lower. ECB juice was expected and received.Draghi said what the market expected. He said they're ready to act but EU Governments must pull the trigger and ask for loans and then abide by the rules. But markets wanted to hear all is on plan.
They did. Printing presses are primed.
Those were the fundamentals driving todays prices. And you should stick to your TA,as it works for you.
My post was and will be the topic of future blogging, Seeking Alpha articles, and every analyst who follows PMs.Make nomistake about that. They will produce charts depicting historical data of the movement of Gold before, during and after presidential elections , depending on which party is ahead, wins and loses.
It will be sliced and diced.
We here are just ahead of the curve....:) I GUARANTEE it!