Gold FuturesLong
Gold Bullish 6 Year Outlook
Past chart history shows gold price went into a bear market from 1980 to early 2000's and again in 2011 to 2020. Currently, we are trading in the bull cycle which lasts on average 9 to 10 years. Analysts, projected a price of gold to hit 2500 by the end of this and we seem to be right on track. Price is trading inside of a bull flag where buyers and sellers are repositioning themselves. What will drive the price of gold higher by the end of this year? What about the year after that and so on?
Looking back further on the weekly chart a cup and handle technical pattern is breaking out. Projected price of this breakout caps out at around 3010. Will be interesting to see if and how the price action of this commodity will reach 3k by 2030.
Looking back further on the weekly chart a cup and handle technical pattern is breaking out. Projected price of this breakout caps out at around 3010. Will be interesting to see if and how the price action of this commodity will reach 3k by 2030.
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