Investing
Haven
No Result
View All Result
Monday, March 1, 2021
  • Login
  • Premium Services & Login
  • 2021 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026
Crypto investing >>
Investing
Haven
  • Premium Services & Login
  • 2021 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026
No Result
View All Result
Investing Haven
No Result
View All Result
Home Commodities & Gold

Gold Is Breaking Down, Here Is Why (Hint: Intermarket)

by Taki Tsaklanos
February 21, 2021
in Commodities & Gold
0
Tags: GOLD
gold break down
2.7k
VIEWS
Share on FacebookShare on Twitter

Gold has two more days to invalidate a breakdown. It’s looking ugly right now, the gold chart is really weak. At the same time we can imagine that gold is looking for a longer term bottom which it can use to start a slow yet powerful (bullish) reversal. We believe the time has not come for gold yet, and this is fully in line with our gold forecast 2021. Silver might outperform gold, but whether it will cross its breakout level at 28 USD is questionable. Silver above 30 USD already now, even we said in our silver forecast 2021 that it would happen later in the year? It depends on gold’s breakdown, or its invalidation. This is why.

First, the gold chart on the daily timeframe.

It’s ugly, really ugly right now. Gold is now for 3 days below two key trendlines: the horizontal trendline which marked the start of the acceleration period in July of last year + the rising trendline which marked the start of the bull run in April of last year.

Not good, at all in fact.

Gold can invalidate this breakdown, and it will have to do so in the next few days. As soon as gold has full bodies of its daily candles above 1800 USD it will invalidate its breakdown. Until then, it’s a breakdown.

gold price chart forecast

The reason for gold’s weakness is to be found in the credit market(s).

TNX, 10 year Treasury yields, are on the rise. And what a powerful trend it is on its daily chart.

Notice the trend change, and the start of the rising channel, in October of last year. Surprise surprise, it was a few weeks before the Corona vaccination was announced to the world which sparked an uber-bullish run in stock markets.

That’s why we keep on saying that TNX is a leading indicator, as it is able to signal a good or bad outcome for risk assets BEFORE it happens.

That said, rising bond yields is bad for gold. And a weak gold market is not exactly stimulating silver, even though silver can have tailwinds from its base metals side.

TNX is set to rise to 14.74, and ultimately 16.00, in the short term. Gold will continue to suffer until TNX is done rising. Gold can become bullish once TNX calms down. That will be the moment when stocks are likely going to take a break, and our Leading Global Stock Indicator will start a healthy retracement.

Enjoying our work? We feature more detailed analysis in our weekend updates of our Momentum Investing service. We also share which stocks we invest in, obviously in line with our higher level market readings. In our Trade Alerts premium service we focus on SPX trading with short term trades, and take a gold or silver position from time to time. 

bond yields daily chart

  premium service trade alerts   premium service trade alerts   premium service crypto teaser  
Taki Tsaklanos

Taki Tsaklanos

Taki has +15 years of experience in global markets. His methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. His work appeared on major financial outlets like FinancialSense, MarketWatch, ... Email: taki.tsaklanos@gmail.com. Twitter: twitter.com/investinghaven

  • Trending
  • Comments
  • Latest
silver prices

A Silver Price Forecast For 2021 *Silver 30 USD Underway*

January 2, 2021
gold price

A Gold Price Forecast For 2021 *Gold 2200 USD Underway*

January 2, 2021
dow jones

A Dow Jones Forecast For 2021 *New All Time Highs*

January 2, 2021
dow jones

Dow Jones Long Term Chart on 20 Years *10 Must See Charts*

October 26, 2020
commodities outlook

A Tip To Understand If Commodities Will Become The Hottest Sector Of 2021

0

Protected: [Emerging Markets/Gold/Silver] Heads up Template

0

Protected: [SPY] Heads up Template

0

Protected: [GOLD] Buy Alert Template

0
commodities outlook

A Tip To Understand If Commodities Will Become The Hottest Sector Of 2021

February 28, 2021
btc price forecast

Bitcoin’s Moment Of Truth Is Here. March 4th, 2021 Is THE Date!

February 28, 2021
bull with mask

Leading Stock Market Indicator From Overdrive To Vulnerable In One Week

February 28, 2021
gold silver forecast

Gold And Silver In 2021: Make-or-Break Is Here!

February 28, 2021

Connect with InvestingHaven

Receive top notch forecasts for free.

*We hate spam as you do.

Categories

  • Premium Services & Login
  • 2021 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026

Site Navigation

  • RSS Feed
  • About us
  • Sitemap
  • Privacy & Disclaimer
  • Terms of Service
  • Contact Us
Investing
Haven

Top notch forecasting with gold price forecast, many stock predictions, cryptocurrency charts. Many investing tips and crypto market analysis.

Copyright © 2021 Investing Haven

No Result
View All Result
  • Premium Services & Login
  • Premium Investing Service
  • Premium Trading Service
  • Premium Crypto Service
  • 2021 Forecasts
  • Markets & Stocks
  • Commodities & Gold
  • Crypto Markets
  • Mission 2026

Copyright © 2021 Investing Haven

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In