You are currently viewing What is Gold going to do next?

What is Gold going to do next?

Pop Quiz. Gold is near resistance. What is gold going to do next?

Option 1: The world is falling apart. This oil thing is a nightmare. Break above $1700 and keep zooming up.

Option 2: The world needs more confirmation that Covid is a disaster. Plus we need the Fed to confirm helicopter money first before gold breaks out more. Expect Gold to drop below $1700 and make an ascending triangle until the next Fed meeting.

Option 3: Everyone is over reacting. It’s just the flu! The Saudis are just a storm in a teacup. Gold is going to fall below support at $1600 and retest the dotted line / support at $1540 many times.


What say you?

Leave a Reply