Kevin Wadsworth: $2000 Gold and $21 Silver, Price Spikes Incoming
Tom welcomes Kevin Wadsworth back to the program to discuss his latest technical analysis of the markets.
Kevin discusses the gold-silver ratio and why he expects a further decline after the recent highs. Silver has been outperforming gold.
He sees a possible technical setup for gold to move higher than $2000 in an intriguing cup and handle pattern. We are reaching another decision point, will we have a pullback now or a spike higher first followed by a significant correction.
Silver, Bitcoin, and Uranium are all showing similar chart patterns, and he discusses each while suggesting specific price targets. News of extended lockdowns will continue to limit uranium supply.
Kevin says, “The chart will effectively tell you the truth, stick to trading the charts and keep some basic trading rules. Then you won’t be swayed by the crowd’s beliefs.”
Talking Points From This Episode
- Gold-silver ratio to continue trending down.
- Gold, Silver, and Bitcoin technical analysis.
- Specific price targets for Bitcoin and silver.
- Uranium/Cameco chart is promising as supply remains constrained.
Guest Links:
Twitter: https://twitter.com/Northst18363337
Articles: https://goldtadise.com
Kevin Wadsworth has a background in meteorology, having spent over 25 years in military and civilian weather forecasting. Over the years, his career has involved everything from briefing pilots to producing commercial advice to utility companies and providing TV and radio broadcasts. His current role is as a Civil Contingency Advisor consists of linking with the emergency response community. He gives advance notice of life-threatening weather events and advice during events influenced by the weather, such as wildfires and industrial accidents.
The science behind weather forecasting aims to unlock methods and techniques for predicting the future with ever-increasing accuracy. A friend and colleague helped spark an interest in the global economy and the financial world in the early 2000s. The financial crash of 2008 got Kevin hooked, and he gradually became aware of the similarities between forecasting the future weather and forecasting future price movements in the financial markets. He also read an abridged version of Strauss and Howes ‘The Fourth Turning’, which intrigued him.
The cyclical nature of markets mirrors the cyclical nature of the weather and seasons. The process of gathering evidence via multiple computer models that assess the likelihood of all possible future outcomes works to predict the future price of gold for predicting whether it’s likely to rain on the weekend or not.
His focus is on ‘tuning out’ of all the ‘noise’ and presenting clear and uncluttered charts and gathering all of the evidence. Kevin tries to have no bias but instead follows the weight of evidence. He says, “I’m not a bull or a bear; I’m simply presenting the evidence as I see it.”