Melman on Gold & Silver
March 2017 by Leonard Melman…Washington and America have never seen a flow of actions by a new President to match what Trump has done during his first three weeks, but those actions suggest two interpretations.
One area receiving huge attention is the promised ascension of free market concepts associated with Trump versus the government-dominated Keynesian ideas previously advocated by both President Obama and Hillary Clinton.
As we have noted through the years, perhaps the most direct, single influence on the future of gold and silver is their monetary opposite—currencies in general, the US Dollar in particular.
The great question now is whether the correction that followed was an end to that bull market—or just a lengthy corrective phase prior to another important bullish move. Let’s turn to technical analysis of the chart for a possible answer.
All of these negatives have finally begun to erode bullishness on Wall Street and the financial markets began to look wobbly at best and dangerously weak at worst.
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