panicselling

GOLD 7-year target $9,000 USD [BOWL BULL]

Long
COMEX:GC1!   Gold Futures
Sounds crazy right? Well I thought so too but as history shows this scenario is entirely possible.

Let’s start at the beginning.

Its January 1996, President Clinton is in the final year of his first term. It’s an election year and no one is aware yet but the stock market over is about to go on one of its greatest runs in history.
GOLD is falling off a cliff . Risk on pushes the yellow metal to a low of $255 in April 2001 a -40% drop since 1996.


As the stock market implodes on the back of the dotcom bubble. $GOLD makes a roaring comeback to finish +70% by Late 2004 and recoup the highs of 1996. Completing a near perfect BOWL pattern.

But this is only the beginning.

January 2005 kicks off a MONSTER $GOLD bull market that ultimately tops out +360% in 6.5 years at a high of $1,900.


Then the steam came out of the $GOLD bull market and it ultimately retraced circa -40% (just like 2001). With the ultimate low of 1,050 in December 2015.


As you can see from the chart above. $GOLD is in the final stages of completing another near perfect BOWL pattern. Just like 2004. And from this if history were to repeat you can set your sights on $9,000 by 2027.

Comments

Very interesting - I am looking for a pullback to 1400s first but makes good sense.
+7 Reply
dtbike1977 professortone
@professortone, Why do you think gold will pull to 1400s first before sky rocketing? Reason?
+16 Reply
Great chart @panicselling
+6 Reply
panicselling TradingView
@TradingView, Thank you!
Reply
Fitting on so many levels... Good one!
+4 Reply
#panicselling... very nice long term analysis!
+3 Reply
@gman2000, thank you very much!
Reply
Awesome idea. Thanks for sharing.
+2 Reply
Beautiful idea, this is how you can use an analysis perfectly from a complete different perspective. Very welldone.
+2 Reply
Hey @panicselling, thanks for sharing this idea. It was recently featured in the TradingView Weekly Digest.
+2 Reply
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