TVC:GOLD is consolidating after the massiv bull run ending in 2012. Despite the bullish fundamentals, I will only look at facts the chart is indicating.
Buy/Sell-Signals:
Gold was in a long period of consolidation trying to find support. The recent movements on the 4M chart didn't confirm the 1050$ support level yet, since the not one 4M candle closed above the 'Smoothed Swirl'-Indicator. The 'MultiRSI' is getting closer to a bullish cross, which would indicate a bull market. However, as long as the price is consolidating between the 'Smoothed Swirl' and without establishing a green support channel on the 'SupertrenD'-Indicator, we don't have any reliable signal for the long term. Once the MultiRSI crosses, and the candle closes above 1320$, we would have a high probability signal for a new bull market in Gold .
If the price closes underneath the Smoothed Swirl, we would buy the 1050$ support level . If 1050$ would break as well, then we would liquidate all positions and wait until the prices crosses the Smoothed Swirl to the upside, which would establish a 'SupertrenD' support channel or the MultiRSI crosses bullish and would lead to a trend reversal.
Long-Term-Targets:
In the case of a bullish signal, the long-term investor can expect to see prices above the 5000$ level before 2030. Remember that Gold went from 250$ up towards 2000$ from 2001 to 2012. So we would anticipate a at least a 2x from the recent top. The target is more then realistic and just needs patience.
I hope that was helpful!
Best,
Felix
Buy/Sell-Signals:
Gold was in a long period of consolidation trying to find support. The recent movements on the 4M chart didn't confirm the 1050$ support level yet, since the not one 4M candle closed above the 'Smoothed Swirl'-Indicator. The 'MultiRSI' is getting closer to a bullish cross, which would indicate a bull market. However, as long as the price is consolidating between the 'Smoothed Swirl' and without establishing a green support channel on the 'SupertrenD'-Indicator, we don't have any reliable signal for the long term. Once the MultiRSI crosses, and the candle closes above 1320$, we would have a high probability signal for a new bull market in Gold .
If the price closes underneath the Smoothed Swirl, we would buy the 1050$ support level . If 1050$ would break as well, then we would liquidate all positions and wait until the prices crosses the Smoothed Swirl to the upside, which would establish a 'SupertrenD' support channel or the MultiRSI crosses bullish and would lead to a trend reversal.
Long-Term-Targets:
In the case of a bullish signal, the long-term investor can expect to see prices above the 5000$ level before 2030. Remember that Gold went from 250$ up towards 2000$ from 2001 to 2012. So we would anticipate a at least a 2x from the recent top. The target is more then realistic and just needs patience.
I hope that was helpful!
Best,
Felix
Trade active:
Opened a position at the breakout. Will slowly start to size whenever a opportunity arrives. I’m planning to hold this position at least for the next 5 - 6 years.