This Ukraine situation has prompted what was alraedy in the cards for AU. The ounce of gold his knocking on the 2k mark which is a huge psychological level.
This is actually the first time I've looked at this gold chart in a really long time and the weekly is making textbook waves from A to Z.
Trade safe people!
Comment
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Looking like a flat for a wave 4. This idea is still valid.
I think this is the right play. I definitely think silver and gold move the slowest due to all the manipulation in their markets, but I can definitely see 2500 an ounce by this time next year, especially with the way oil prices are. It's one of those things where if it takes more to produce, the cost is going to go up intrinsically purely due to the cost of production. If it costs miners 2400 to produce an ounce, they are in no way going to sell at 2000. I anticipate oil getting much much worse before it gets any better, so gold can only go up.
TechniBlock
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Low volume and bearish shooting star with 2 days until candle close.
Bobbers31
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@aconcept, low volume is a common occurence of a 5th wave 🙂