Gold: 1525+ Near-Term. And Then...?
Today we had a very interesting day upon us. A day where Gold barely moved until basically the last half of the US exchange where we hovered in the 1511-1512 range.
Despite a reasonable move today, most of the Gold and Silver stocks finished down today due to them being heavily overbought: I expect a rebound tomorrow. Why are they being overbought? Many countries continue to see negative yields, dropping interest rates and falling GDP. Contingent on the Hong Kong protests and we see overbought Gold and Silver stocks.
From here I see that we get to 1525-1530 in the near term, then off to 1550 and 1580 before a slight correction from 1580s to 1550s before we set our eyes bound to 1600. Once we get into the 1600s and 1700s there will be less retracements by a significant amount compared to the 1400s and 1500s.
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Today is a perfect example why I focus heavily on political and geopolitical factors. If you search all over this website, people thought today would be a strong bull because for example, SP closed at 2900. However, you must realize 70% of the market is geopolitical/politically motivated/manipulated/related and only 30% can be based on hypotheticals, mathematicals and trends.
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I invite everyone to view all of my Gold/Silver posts and check the consistency and accuracy of my predictions and forecasts.
- zSplit
Despite a reasonable move today, most of the Gold and Silver stocks finished down today due to them being heavily overbought: I expect a rebound tomorrow. Why are they being overbought? Many countries continue to see negative yields, dropping interest rates and falling GDP. Contingent on the Hong Kong protests and we see overbought Gold and Silver stocks.
From here I see that we get to 1525-1530 in the near term, then off to 1550 and 1580 before a slight correction from 1580s to 1550s before we set our eyes bound to 1600. Once we get into the 1600s and 1700s there will be less retracements by a significant amount compared to the 1400s and 1500s.
--
Today is a perfect example why I focus heavily on political and geopolitical factors. If you search all over this website, people thought today would be a strong bull because for example, SP closed at 2900. However, you must realize 70% of the market is geopolitical/politically motivated/manipulated/related and only 30% can be based on hypotheticals, mathematicals and trends.
--
I invite everyone to view all of my Gold/Silver posts and check the consistency and accuracy of my predictions and forecasts.
- zSplit
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