April 23, 2024 - (Gold Market Wire) - For a moment there it looked like we were about to re-write the laws of Newtonian Physics. Thankfully we are still of the earthly realm. Translation? Gold has finally started to back and fill. Somewhat contrarily, for us Bulls, this is good news. It means the market is planting solid roots for its next move up. No serious participant likes the "high wire act"... because it almost always ends in disaster. If you need an example reference the Tech stocks of the late 1990s.

So, the charts:

$600 of upside in under 7 months. That is some move. Our first horizontal support is giving way as we speak, signaling that we are (likely) going to have a deeper pullback.

Zooming in:

How low can we go? The lower the better, as far as we're concerned. This pullback is simply generating energy for another up move. This is, in no way, the sign of a bull market ending. If we were to voice an opinion, which is only an opinion: This move down may be the last before we head over $2400 to never look back... at least for several years. If that sounds like last chance Saloon, it is not meant to be, but if we do the incredible and get back under $2000 again, the real buyers will be coming out of the woodwork. They will be buying from all the leveraged losers who have chased this thing up, and bought above $2350 (which we have been warning about), convinced that "This Is It !!!", as they buy with all their leveraged might - only to be crushed, yet again.

Ancient Wisdom from the masters. It never gets old.

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So, at this historic juncture, ask yourself a couple of questions: Could you handle a move below $2,000 (or even lower)? And what is your buying strategy if we do? Plan now... don't improvise in the moment.