Gold's Bright 2018 Outlook
Source: What Is That Whistling Sound
Since then, we have rallied over $100.
Now we will see how much strength remains in this 4 week rally.
Note that the gold mining stocks, GDX, have outperformed the metal itself.
We find historically this suggests further upside and the end to the choppy range that the metal and stock have roamed around in over the past year.
On both the Gold metal and GDX portions of the chart we see that price has exceeded 61% of the prior move down.
This suggests to this analyst that we will challenge the prior highs both in the metal and stocks and gives us a reasonable shorter term target.
What will be notable over the next few weeks is what happens once these areas are reached.
Will we see consolidation?
Will price pull back and retrace 30% of the move up?
Will price power through and make new intermediate highs as the US dollar declines?
Certainly how the wider stock market behaves will influence the smaller and often negatively correlated gold sector.
Let’s see what happens and good trading to all.
Source: http://whatisthatwhistlingsound.blogspot.com/2018/01/golds-bright-2018-outlook.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).