Gold 2020-2027 Variants!!!
According to Gold!
At the present moment the chart shows a very difficult technical picture, and also there is a contradicting wave structure, several variants at least are contradicting to each other, at my conservative view!
That is why more likely I will express my feelings on Gold with probable calculated price lows and ceilings in the current situation.
There is a possible correction level 1400-1555, which at my point of view we have not normally worked out yet, and where we can still return, correcting the growth which now is from 1160$ per ounce.
Also there is 1755-1920 zone where we are now.
There are three course events variants at my conservative point of view.
All three are looking globally one way or another.
Variant № 1 – From this level passing 1920 we go further to the top with corrections respectively!
Variant № 2 – In 1755-1920 range there is a reversal and we begin to correct the price growth from 1160$ per ounce.
In my opinion the correction will likely come to the 1400-1555 $ per ounce area and the next growth will begin from this corridor!
Variant № 3 goes after № 2 excluding the correction below, which develops into lengthy complex formation, but in the final version it still presumably breaks the price up!
My reflections
Let’s suppose :
№1 – if the World Economics is recovering,
The indexes, for example S&P500, DJI, reestablish their tops and the different growth periods begin.
Then we follow the chart at Variant № 3 there a long correction in Gold will take place, approximately till 2025-2027 and only then may be some time earlier the price on Gold will grow, everything will depend on the correction structure.
№2 – if everything can do no right so everything will depend on problems and their timing.
The 1st and the 2nd variant calculated at the chart are possible for Gold.
That is all. IMHO!
NB!
Once again it is necessary to understand that the wave structure, patterns, graphical models can be changed or they can change their structure that is why it is very important to have confirmations.
Remember!
The forecast of financial markets is a personal author’s opinion. The current analysis is not a trade manual. The author has no responsibility for the result, which can be from the use of trade recommendations from the given reviews.