Eric joined us to give his views on market action. Gold followed according to expectations, rallying the end of the year and into February. He's expecting it to go lower heading into March and then reassert the bullish trend through November. Oil went higher and then corrected slightly, probably in anticipation of higher prices later in the year.
The dollar had a bounce and is likely to head lower later in the year. And stock markets are showing much more volatility and getting ready lower prices. 2950-2980 in the Stoxx 50 index is the important level to watch.
They could be heading to their 2016 lows, which would trigger some liquidation in markets around the globe. Finally, when Bitcoin saw its final surge into December it was indicator of things to come in other markets. As a result gold saw a surge from anti-dollar money flowing into it. It's got a few more months to go before it goes into the next uptrend.
- Source, SD Bullion
