https://thegoldandoilguy.com/wp-content/uploads/2020/06/2.png 574 850 admin http://www.thegoldandoilguy.com/wp-content/uploads/2014/11/tgaoglogo.png admin2020-06-01 11:47:532020-06-01 11:47:53Metals Nearing Critical Momentum For New Parabolic Rally
Metals Nearing Critical Momentum For New Parabolic Rally
While the US stock market has rallied over the past 5+ weeks, Gold has stalled near $1730 to $1740. We issued a research post suggesting the GREEN Fibonacci Price Amplitude Arc was acting as major resistance and once that level is breached, we expect a big upside move in Gold. Currently, Gold has reached just above the Green Price Amplitude Arc and this week may be a critical moment for both Gold and Silver in terms of a momentum base. Gold has continued to move high in a series of waves – moving higher, then stalling/basing, then attempting another move higher. This recent base near $1740, after the deeper price rotation in February/March, confirms our 2018/2019 predictive modeling research suggesting that $1750 would be a key level in the near future. Part of that research suggested once $1750 is breached, then a bigger upside move would take place targeting levels above $2400 – eventually targeting $3750. April 25, 2020: Fibonacci Price Amplitude Arcs Predict Big Gold Breakout
GOLD FUTURES WEEKLY CHARTThis consolidation after the COVID-19 event near $1750 is a very real confirmation for our researchers that the upside breakout move is about to happen. How soon? It could begin to break out next week of the following week? How high could it go? Our upside target is $2000 to $2100 initially – but Gold could rally to levels near $2400 on this next breakout move.
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