Gold's Upcoming Rally: A Safe Haven in Uncertain Times
Updated
Gold is expected to have a significant rally to the upside. We have now been waiting 46 days for a weekly cycle low (10 days overdue). I believe we can confidently say that the drop on July 22nd was the WCL we have been anticipating. If this is correct, $2,386 should be the lowest price we see in the next 120 days.
Evidence for this includes the fact that cycles often extend in bull markets. Personally, I will not wait any further and will extend my stop loss to $2,335. I believe this opportunity will be a great entry for a long position. I strongly believe in the left-translated cycle, and if this occurs, a significant bear market for stocks will follow after November, which will be a great catalyst for gold and the precious metal market.
In the coming weeks and months leading up to November, I believe we will see a blow-off top for all markets as part of a final multi-decade cycle and the Fourth Turning. After November, I believe we will see a lot of fear in the market, and many will seek refuge in gold during uncertain times. Historically, gold has been a great investment.
Widespread pessimism and falling confidence in the fiat market, as we see now around the world, will surely boost gold in Bitcoin's coming bull market over the next few weeks and months leading up to November.
Evidence for this includes the fact that cycles often extend in bull markets. Personally, I will not wait any further and will extend my stop loss to $2,335. I believe this opportunity will be a great entry for a long position. I strongly believe in the left-translated cycle, and if this occurs, a significant bear market for stocks will follow after November, which will be a great catalyst for gold and the precious metal market.
In the coming weeks and months leading up to November, I believe we will see a blow-off top for all markets as part of a final multi-decade cycle and the Fourth Turning. After November, I believe we will see a lot of fear in the market, and many will seek refuge in gold during uncertain times. Historically, gold has been a great investment.
Widespread pessimism and falling confidence in the fiat market, as we see now around the world, will surely boost gold in Bitcoin's coming bull market over the next few weeks and months leading up to November.
Trade active
We were a little early for the entry for this long hold position, as we saw a small dip towards the yellow support line. However, we were not stopped out with the stop loss set at $2.335. We are now in a solid profit and are expecting to go through a great rally, with rate cuts likely coming in September.Trade active
Getting ready to lock in some great gains around next friday, there we should start seeing a decline into a yearly and weekly cycle low.
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