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RE: (VIDEO) US Dollar Plunges, Oil Rebounds, Crypto Attack, Fed. MBS Scheme. By Gregory Mannarino

in #money7 years ago (edited)

Thanks for the timely update Greg @marketreport.

My take on the Cryptos is that the banks are trying to get their prices down to the key Fib support levels (e.g. 61.8% or 78.6%) before loading up on them again. For example, Ethereum is at its 61.8% fib level now (around $222). It could go down further to the 78.6% level (around $172) and then we will see what happens !

On precious metals, I think the bottom is now very close and if the prices can go above their respective 50dMA, we should resume the long-term bull market. I was also listening to an interview between Mike Maloney and Jeff Clark on their latest video and they were both saying that historically these precious metals usually bottom at the end of June.