ResonanceTrading
Long

Where is gold heading in the next weeks, months and years?

FX:XAUUSD   Gold Spot / U.S. Dollar
In the medium term, gold             is in the 5th wave of an ending diagonal that could end around 1030. But before heading to new lows we could see a correction towards 1120 levels in the (B) wave.

In the long term, gold             should start a multi-year upward move towards 1450-1500 during these years the sentiment will shift from bearish to bullish and analysts will call for new all times highs ($2500, $5000 and $10,000).

After reaching my target, gold             will go in another multi-year bear market towards new lows $700s area which represents the area in which a smaller degree 4th wave ended (2008 lows) and the end of the first wave of the grand supercycle.

At that point in time, investors will dump gold             and most people will be bearish gold             , all goldbugs would turn bearish ; which will represent the beginning of the fifth grand supercycle wave to new all time highs.
In commodities , the fifth wave usually is the strongest.

P.S: I am not a fortune teller, I just use the given variables and present the most probable outcome using Cycles, Elliott Waves Analysis, the Dow-theory, Social trends and fractals.
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