GOLD SHOOTING FOR $1600 BY WORLD CUP OF SOCCER 2018
As previously posted ... gold is working on a long term INVERSE HEAD & SHOULDERS bottom. Since testing the November, 2014 low of the left shoulder at ~1131 last Christmas, an 18% rally has ensued which seems to be picking up even more steam with every presidential tweet.
Assuming the neckline is crossed at the 1445 tag which should be by April, 2018 ... the target will then be 1594 which should fall smack in the middle of the World Cup of Soccer in Russia ... what can go wrong? This 1594 target is close to the key 61.8% fib retrace of the descent from the September, 2011 all-time high & even more interestingly it is the top before the famous April, 2013 price takedown.
Right now the way shits goin' ... gold's odds to reach $1600 by next summer are better than USA's 33:1 chances of winning the World Cup.
Assuming the neckline is crossed at the 1445 tag which should be by April, 2018 ... the target will then be 1594 which should fall smack in the middle of the World Cup of Soccer in Russia ... what can go wrong? This 1594 target is close to the key 61.8% fib retrace of the descent from the September, 2011 all-time high & even more interestingly it is the top before the famous April, 2013 price takedown.
Right now the way shits goin' ... gold's odds to reach $1600 by next summer are better than USA's 33:1 chances of winning the World Cup.