GOLD: 1500 Likely This Week; 1600 Looms Later This Year
Hello everyone,
Just here with a quick Gold update! As I forecasted, we have surpassed 1470 as I am writing this and we are off to the races to 1500 with very little retracement. Once again, for those who want to long Gold, this will be the last month to do so at an optimal entry. Specifically, this will be the last week for an even better entry!
The second most crucial test was to surpass 1450 (which we did); the most important being 1400 (which we obviously did already).
Once we get to 1550 I see a few stronger retracements with the first one from 1550 down to about 1517 or 1502 but for now we have a ton of easy room to make-up.
I am still continuing to eye 1600 by Halloween at the latest (probably much earlier than this) depending how the Fed and trade war unfold. The faster the stock market deteriorates and the faster the trade war escalates, this will ultimately keep resistances higher and higher with Gold. Therefore, at any fake-out on the downside, the downside will be more and more muted.
--
For accurate Gold information, analysis and predictions, give me a quick follow!
For consistency and for those who are curious, check out some of my other ideas below.
- zSplit
Just here with a quick Gold update! As I forecasted, we have surpassed 1470 as I am writing this and we are off to the races to 1500 with very little retracement. Once again, for those who want to long Gold, this will be the last month to do so at an optimal entry. Specifically, this will be the last week for an even better entry!
The second most crucial test was to surpass 1450 (which we did); the most important being 1400 (which we obviously did already).
Once we get to 1550 I see a few stronger retracements with the first one from 1550 down to about 1517 or 1502 but for now we have a ton of easy room to make-up.
I am still continuing to eye 1600 by Halloween at the latest (probably much earlier than this) depending how the Fed and trade war unfold. The faster the stock market deteriorates and the faster the trade war escalates, this will ultimately keep resistances higher and higher with Gold. Therefore, at any fake-out on the downside, the downside will be more and more muted.
--
For accurate Gold information, analysis and predictions, give me a quick follow!
For consistency and for those who are curious, check out some of my other ideas below.
- zSplit
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