Here is a brief Elliot Wave Perspective on gold:
- Short term outlook is quite bearish.
- It correlates to bullish outlook on equities. I think we have some short term upside until EOQ1 or Q2 on equities.
- It looks likely that we are on Wave 5 which will reach a high of $2275 USD
Bullish scenarios are:
- 1900 High was Wave 5 and we are on a new motive wave (Most Bullish).
- Bouncing at 1600-1700, breaking out of the rising wedge in the short term without retesting the bottom, confirming a new motive wave.
- The current wave 5 will be extended to 3000, but in this case we will still have a correction in the short term (Med term Bullish).
I am a believer that financial markets move the world, and precedes "news"...
From this forecast, we can also speculate that Biden will have a 4year term.
This trend also aligns with the Smart City bubble ($90T USD projected MCap) which should begin in 2030.
- Short term outlook is quite bearish.
- It correlates to bullish outlook on equities. I think we have some short term upside until EOQ1 or Q2 on equities.
- It looks likely that we are on Wave 5 which will reach a high of $2275 USD
Bullish scenarios are:
- 1900 High was Wave 5 and we are on a new motive wave (Most Bullish).
- Bouncing at 1600-1700, breaking out of the rising wedge in the short term without retesting the bottom, confirming a new motive wave.
- The current wave 5 will be extended to 3000, but in this case we will still have a correction in the short term (Med term Bullish).
I am a believer that financial markets move the world, and precedes "news"...
From this forecast, we can also speculate that Biden will have a 4year term.
This trend also aligns with the Smart City bubble ($90T USD projected MCap) which should begin in 2030.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.