“Sure, everything’s fine … drink up, says the FED!”
We end another quarter, month, & week, and yet again for like the
umpteenth million time, last week sees the “Comex Con Game” at work
… and why shouldn’t it? … who’s gonna stop ‘em? … eventually of course,
the gig is up, but that’s little consolation to a market that is as heavily
manipulated as gold by the bullion dealer banks and their BFF’s the FED.
“When you’re among the dominant players, and you got all the free money in
the world to play with, at practically zero interest, and there are no ramifications
for your continued selling, and you can get the government through the idiots at
the FED, to “fat finger” gold lower by their massive selling at just the right
times, then it’s an easy proposition to agree to, cuz it’s basically free money
… and that’s why they do it”.
This week’s charts show the dichotomy gold is going through … expanding
Asia & European session ranges, and even with the debacle on Thursday, a
shrinking New York session range. It grows wider by the week. Directly
below the week’s 20 Day Range MA charts.
click on any chart to enlarge
Gold seems to be in “no mans land” at the moment from a technical
perspective … I’d be surprised this week, if there was no attempt to go after
the 1280 - 1276 level, no matter the perceived “fun-dur-mentals” … everybody
and their brother knows there are some large stops below that level, especially
among the longer term position holding crowd … the scumbag bullion dealer
banks would love to click these off, and what matters is central bank demand
around the 1280 level, and whether or not the usual suspects believe they can
shatter price before the buyers show up … it’s a cat & mouse game, and at a
minimum I think there’s a good chance to see one attempt at that level
… we’ll see.
In Cable, SHTF this week, as time is rapidly running out on “important votes”
[IV] in parliament … it’s fish or cut bait time for the Pols, and you just know
they’ll wait until the very last second before they’ll do anything … my guess
is, they can’t figure out how all the graft, bribery, extortion, & influence
peddling is gonna break, and we’re looking at a “hard Brexit” … that’s a
minority view among the smartest people in the room at the moment, but
given the psychological nature of Pols, and natural self serving opinion of
themselves, it’s the most logical conclusion unless somebody gives up
somethin’ … “and I wouldn’t bet on that”! In any event, it should make for a
crazy ass week in Cable, depending on how the news breaks.
Have a great rest of your weekend everybody!