I think a lot of metals analysts are expecting an intermediate top in gold at $4000 and an intermediate top and silver at $50. I'm of the opinion that the rally may go further than that, and I'll explain why in this video. So, I'm going to start off and show you the dollar, and this is the long-term chart of the dollar.
It started a secular bear market right here at this peak, and this is a daily chart, so this is the 200-day moving average, but prices are also below the 200-week moving average. And that's kind of my tool that I use to determine if an asset is in a secular bear market, as if it's dropped below the 200-week moving average, and that average is starting to turn down.
That's usually a fairly dependable sign that you're in a long-term multi-year bear market, which I think the dollar is.
Now, here's why I don't think this intermediate rally in metals is going to stop; $4000 gold and fifty-dollar silver. Now, it may have a minor pullback (what I call a daily cycle low), but those don't last very long. They're usually somewhere between 4 and 10 days.
They generally they'll drop below the 10-day moving average, and they'll turn that average back down. But we're not talking about a correction that lasts 10 or 12 weeks. This is just a very short-term pullback, [which is] kind of clear, some of the short-term sentiment, and then, basically, as soon as it gets a little bit oversold, then it starts to rally again, that's what I think is going to happen, and this is why...
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