The Dollar Index is once again a sell with a short Value Bet rating of 1%, which should have a moderating effect on precious metals complex selling in the near-term.
Gold has 1/2 odds, or an implied probability of 67% of tagging 1751. Meanwhile, silver has 19/31 odds, or an implied probability of 62% of tagging 22.21.
As gold and silver cycles are firmly up, the odds of falling substantially below L1 support are low. By the same token, the Dollar Index cycle is in a steep decline and any Value Bet rating on the short side has better-than-fair odds of success. In a word, I wouldn’t want to be short the precious metals complex at current levels.
Below you will find a handful of issues with exceptional Value Bet ratings:
DATE: 17 FEBRUARY 2021
EDGE: > 0% = ACTIONABLE
Barrick, interestingly, is flashing one of its six strongest Value Bet signals going back to 1986.