ThinkingAntsOk

On the way to the next Resistance GOLD Futures by ThinkingAntsOk

COMEX:GC1!   Gold Futures
Main items we can see on the chart:

a) After a long time above a support zone , the price formed a clear corrective Structure

b) The Corrective Structure was broken with a bullish movement

c) Our main target for this movement is the next resistance zone at 1900-1915

d) Currently, the price is on its way to the Target

e) However, in our experience observing GOLD , we have seen that middle corrections happen on the movement towards these type of targets. So, expect one before opening new long positions if you couldn't open positions yet.
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Comments

oh my.this is easy money brooo
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nice work and that was my idea
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Oh yeah, I mean $2,000 is a VERY conservative estimate. Even mainstream economists like BofA, have set a target of $3,000
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GDX has been a money printer in July. BBBBBRRRRRRRRRRR
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It's really something else to see how gold is nearing all-time highs after all this time
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@scheplick, Definitely a really interesting situation to observe. From a macro perspective, we can see some similarities to the last time Gold make new all-time highs. We will see how the price evolves based on previous behaviour.

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