Will Gold hit $1900 by year end?
With all of the Macro events in Europe changing on an almost daily basis, the whipsaws in both the precious metals and equities markets are difficult to forecast and trade for most investors.
However, Gold has been moving in defined Fibonacci and wave patterns for ten years now, and has about three years left in a 13 year bull cycle if I’m right.
Below is the updated weekly chart of Gold. You can see prior low’s as they related to oversold indicators, and where we just came off the 1531 lows and its Fibonacci pivot along with the oversold indicators below.
Look for Gold to attack 1775 first, then 1800, 1840, then 1900 in the coming 6-10 weeks or so.
Courtesy of Chris Vermeulen, the author of the The GoldandOilGuy.com
About ETF Investor Insights:
ETF Investor Insights is the electronic newsletter from the editors at ETF MarketPro.
Each week, the newsletter delivers the latest news, investing ideas, case studies and upcoming events of interest to ETF investors.
The newsletter is free to subscribers who sign-up on the ETF MarketPro website.
Click below to subscribe.
