Monday, November 10, 2014

BofA: "Change Your Thinking On Gold" Friday Marked The End Of A 4 Year Decline

For the week ahead, BofAML's MacNeil Curry is focused on the plight of the USDollar, US Treasuries, and commodities; especially gold and oil. All of these markets, he warns, are showing signs of changes in trend. Most notably, Curry explains, we are switching gears on gold from bearish to bullish, "Friday's gains are just the beginning."

Via BofAML's MacNeil Curry,
Gold: Friday's gains are just the beginning

Change your thinking on Gold.
Friday's Bullish Reversal / Bullish Engulfing Candle marks the end of a 4yr decline and the beginning of a medium term bull trend.

Initial targets are seen to 1241/55 ahead of 1345 and potentially as far as 1433.
Buy dips.
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And positioning has shifted to a notable bearish position...
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So far no good as gold and silver are giving back Friday's gains...