Gold long term trend
Some analysis based on previous cycle.
Time analysis: GFC started mid 2007, took us about 8 months for gold to peak, then 9 months of correction before starting new bull cycle to $1920. This time it took us about 6 months to reach new ATH. If the history repeats, I expect our bottom to be around Mar-Apr 2021, after Biden started his US presidency.
Price: Last time we corrected more than 30% from ATH. This time if we do the same, that would give us about $1450. But if we only go back to touch the high of price before crisis started, that would be around $1650-$1685. I'm leaning towards the 2nd scenario. After that, we can resume our parabolic move with FED Brrrr machine. Can't wait for that move :)
Time analysis: GFC started mid 2007, took us about 8 months for gold to peak, then 9 months of correction before starting new bull cycle to $1920. This time it took us about 6 months to reach new ATH. If the history repeats, I expect our bottom to be around Mar-Apr 2021, after Biden started his US presidency.
Price: Last time we corrected more than 30% from ATH. This time if we do the same, that would give us about $1450. But if we only go back to touch the high of price before crisis started, that would be around $1650-$1685. I'm leaning towards the 2nd scenario. After that, we can resume our parabolic move with FED Brrrr machine. Can't wait for that move :)
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