The economy is weakening each quarter. Trump's tariffs have done damage that lags behind and will only be materialized in numbers during the months to come. The FED's rate hikes have also done damage that is irreversible, and will begin to show soon.
The next FED meeting Dec 11 has a great chance of not cutting, which will further deteriorate the economy and stocks will take a hit.
I predict 1560 by Jan 2020 is almost a sure thing, and a possibility to see 1600.
We may get upside and downside breaks on the channel but overall, TP is 1800 by Jan 2021. This is the same ascending slope as all previous gold rallies, so it is a pretty conservative outlook.
The next FED meeting Dec 11 has a great chance of not cutting, which will further deteriorate the economy and stocks will take a hit.
I predict 1560 by Jan 2020 is almost a sure thing, and a possibility to see 1600.
We may get upside and downside breaks on the channel but overall, TP is 1800 by Jan 2021. This is the same ascending slope as all previous gold rallies, so it is a pretty conservative outlook.