TradingView
VIP_Trading_Technologies
May 29, 2021 7:43 AM

1950 Gold price ceiling? 

GOLD (US$/OZ)TVC

Description

After an enormous rally from 1678 till current prices, we have had nearly 250 USD increase in price but where would be the ceiling for this rally before a correction?

Based on previous data I would say that 1950ish is the area to clear in order to keep climbing for a double top or to hit new all time high.

From the fundamental point of view, honestly I do not see it going much higher as inflation will cause yields and USD to rise, stocks will crash and money will be moved off to safe treasuries.

We have been with almost no interest for over a decade, the course started to change.

All the best.
Comments
ka_ka
My predictions are to 1930.00 and then down
VIP_Trading_Technologies
@ka_ka, Thanks for your input. That area of 1930 to 1951 seems the are to reverse
ka_ka
@DrMoney Yes, I think it will reach 1930.00 and it will reflect a strong decline because the US dollar is rising
mmartinsdd4
Well said
VIP_Trading_Technologies
@mmartinsdd4, Thanks a lot for your feedback :)
More