Gold has seen some wild chop recently, but I think these are solid price targets for both the bearish and the bullish case. I have a bullish bias considering the fundamentals with what is going on with the dollar, a likely pause/continued decrease in fed funds rates, and global de-dollarization.
Technically, this wedge has been well respected, and is statistically valid considering the number of supply and demand points that it has put in. I'd like to see a return to the range of 1913-1930 or so for a partial decline within the structure for the most equitable long position.
Technically, this wedge has been well respected, and is statistically valid considering the number of supply and demand points that it has put in. I'd like to see a return to the range of 1913-1930 or so for a partial decline within the structure for the most equitable long position.