Breakout is probably starting with target price 2350-2450 in next 6 weeks (biggest part will take place in late July), RSI bottomed today, gold price action was in slow motion for at least 6 hours struggling from one bar to another, more clusters then line. Silver popped at the end of the day to starting value - possibly same will start next week for gold. Jump over recent clusters making them strong starting support in advance to regain recent 1900 lvl.
Bearish continuation seems fruitless until August.
In bigger picture 4500 could be reached in 2023.
Bearish continuation seems fruitless until August.
In bigger picture 4500 could be reached in 2023.
Comment:
this is to me just maximal possible advance for this summer and 2400 is a target, it will probably be invalidated and advance prolonged, but either way I expect big breakout to 2550 level till end of 2021 and think prices action will be bullish from this bottom. Minimal advance I expect for this summer would be rebound to 2000.