Gold Technical Analysis:
4 February 2016, Thursday, 10.35am Singapore Time
Attached is the weekly chart of Gold.
Gold is nearing the end of the 66.67% consolidation triangle.
It is ending its smart monies' accumulation soon and is preparing to break up in 2016/2017.
Gold's rally target is $1550-$1600.
Invest not in stocks, invest in gold. Take profits of all Gold Investment when $1550 approaches.
Take profits of all Gold investments in 2 or 3 batches when it comes:
1. $1500 ; 2. $1550 ; 3. $1600
USD will have significant yet healthy correction in 2016, and Gold and Oil will have significant rally in 2016 (Bear Market Rally in Commodities, a common phenomenon of Escape Wave)
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What year ( 2018, 2019 ) do you think Gold and oil will begin their new bull market as your analysis still indicates a bear market?
ReplyDeleteWhen gold reaches your $1600 target what price target correction are you anticipating?
This is for my super fund where l like to take 6 month plus positions. I am currently long NST. Ax and some physical gold. I am happy to sell at your price targets and then see what happens.
Any thoughts appreciated and no advice sought.