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Stefan Gleason: Are technicals pointing to a new gold rally?
By Stefan Gleason
Money Metals News Service
Money Metals Exchange, Eagle, Idaho
Wedesday, April 28, 2021
Although we tend to focus more on the fundamentals here at Money Metals, the technical indicators can offer important insights. Such as right now.
Many traders, investors, and momentum players will closely examine the market trend to determine if and when to enter or exit the market.
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Honey Badger Silver's Chad Williams
talks with Chris Marcus of Arcadia Economics
Honey Badger Silver's executive chairman, Chad Williams, tells Chris Marcus of Arcadia Economics that "inflation is here" already and that rising interest rates didn't impede gold and silver in the 1970s and won't necessarily impede them today.
Honey Badger Silver is a Canadian silver company based in Toronto that is building a portfolio of silver and other assets. The company has a big position in Ontario's prolific Thunder Bay Silver District. The company's shares trade on the TSX Venture Exchange under the symbol TUF and over the counter in the U.S. as HBEIF. The company's internet site is here:
https://honeybadgersilver.com/
Williams' interview with Marcus is 25 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=SnNg2-cMR4Q&t=4s
A market with a strong technical foundation can launch to dizzying heights, while a market displaying weak technicals will have a tough time putting together any sustainable upside.
The gold market has been primarily range-bound for the last two months. The $1,700 and $1,800 levels have acted as support and resistance. Medium-term, though, gold has been in a downtrend since its $2,100 high last August.
The chart has provided some clues, however, that suggest the bulls are finally regaining traction and the market is potentially gearing up for a breakout above $1,800 in the coming weeks. ...
... For the remainder of the analysis:
https://www.moneymetals.com/news/2021/04/28/are-technicals-pointing-to-n...
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