Gold collapsed heavily on Friday (26 Feb 2021) to an eight-month low from $1,807$/oz to $1,715/oz as a stronger Dollar and elevated U.S. Treasury Yields (at 1.6%) hammered non-yielding bullion's appeal.
We predicted this move to happen but not that quickly. As you can see on the daily chart, Gold reached wave Y (which contains 5 waves down) signaling the end of its corrective cycle (Big wave 4 of the Grand cycle) and the beginning of a new impulsive wave to break this channel and possibly reach new historical highs.
Also, Gold closed last week trading at $1,732$, and if you go back in history (December 2011), you can clearly see how strong and crucial this resistance area is which finally turned into support. Thus, there are multiple confirmations showing the end of Gold's correction and the start of the big historical move.
Prepare yourself to capitalize!
We predicted this move to happen but not that quickly. As you can see on the daily chart, Gold reached wave Y (which contains 5 waves down) signaling the end of its corrective cycle (Big wave 4 of the Grand cycle) and the beginning of a new impulsive wave to break this channel and possibly reach new historical highs.
Also, Gold closed last week trading at $1,732$, and if you go back in history (December 2011), you can clearly see how strong and crucial this resistance area is which finally turned into support. Thus, there are multiple confirmations showing the end of Gold's correction and the start of the big historical move.
Prepare yourself to capitalize!
