from King World News
Today one of the greats in the business noted “A lot of indicators (in the gold market) flipped to buy signals.”
Precious Metals Correction Is Over
October 12 (King World News) – Fred Hickey: I believe precious metals correction that began in early August is over. Sentiment washed out, COTs favorable. Big push to break 1875 (failed) on Thurs. followed by $50 gold reversal up thru Friday Gold breaks over $1900, then breaks $1907 downward sloping trend line and finally $1923.
This caused technicians who had been expecting significant further downside in gold to throw in towel late in the day on Friday.