| | | | From a technical standpoint, that's not some wild prediction. It's actually quite reasonable. The recent price action looks like some sort of corrective pattern — possibly a leading or ending diagonal.
And here's what matters most: These diagonal patterns typically see 80% to 88% retracements when they complete.
Now, I'm not calling for this to happen tomorrow. This could unfold over the next few weeks, few months, few years — maybe even into the 2030s.
The point is to be aware of the technical setup, not to panic.
What Silver's Behavior Is Telling Us
One of the more telling signals comes from silver's relative performance. Silver is still lagging significantly and hasn't participated in gold's final extension.
This creates two scenarios: Either silver catches up quickly, or it showed up late to a party that's already ending.
I've personally taken action on this analysis — I have no long exposure to gold and have actually doubled down on a short position through ProShares UltraShort Gold (GLL).
That's how seriously I'm taking these technical warnings.
I get it — this view goes against the current enthusiasm around precious metals. But I've found that the best trades often come from recognizing when markets have stretched too far, too fast.
The Fibonacci extensions don't lie, and neither do standard deviation readings at these extremes.
Keep your eyes on those retracement levels. Whether this correction materializes in months or years, the technical framework is there.
And when everyone's positioned the same way? That's usually when markets find a way to surprise them.
Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!
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