November 6, 2012
Today acclaimed commodity trader Dan Norcini, and 54-year veteran of the markets Ron Rosen sent King World News exclusively some outstanding charts and commentary for our global readers. This will give KWN readers an important snapshot of where we are in the current bull market in the metals, and also lay out why a monumental move is coming in gold and silver.
We will start with Rosen and move to Norcini:
Once the tests were complete a huge bull
move began. The current breakout, like the previous two breakouts, is
being tested. It would be most unusual if the breakout line was not
tested. When the test is complete, we will most likely see the biggest
move of this entire gold bull market.
Along
with gold, I believe the entire precious metals complex will go along
for the ride. So, get ready to fasten your seat-belts! It should be
one heck of a ride.”
Rosen also added: “The price of gold in 2012 is exactly where it was in 1972 relative to the US Debt & Debt Limit (see chart below). When the current corrections in gold and silver bullion are complete, an explosion to the upside will take place in my opinion. It should be a monumental move, one that we won’t soon forget.”
Acclaimed commodity trader Dan Norcini had this to say: “The chart below illustrates why the battle in gold at the $1,800 level is so important. This is a 42-year chart of gold.
The
next time gold breaks through $1,800, we will really see the gold
market take off to the upside in a very serious manner. If you look at
the previous breakout of a similar pattern structure, which occurred in
2009, the price of gold went on to almost double in about 22 months.”
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