Morris Hubbartt
321 Gold
August 19, 2011
Dollar Commentary
You were told by Congress and the Fed that if the government didn’t raise the debt ceiling, a disaster would ensue. Well, the debt ceiling was raised and the disaster continues. The situation now feels “out of control.”
- A d v e r t i s e m e n t
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The debt downgrade was the fundamental driver that pushed gold above the technical channel and onto what I’ve labeled the “super highway” price channel. The Fed seems to have pulled out all the stops, and still business is almost at a standstill. Something is very wrong.
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Gold Analysis
I believe this gold chart is the most important long term chart you can examine. It is a picture of a likely revaluation that could see gold go way beyond even what is indicated on my chart.
Welcome to the battle for gold $1800. While the move onto the “super highway” may have officially started, don’t think this is going to be an easy ride. There will be a lot of money to be made, but there will be unbelievable pain for those who don’t play this situation correctly.
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