I copied the gold price during the 2008 market crash like we have a crash now. price looks very similar and a lot of people expect gold to rocket as a safe haven currency. In my it's a safe haven asset because it doesn't sell of like crazy like the equities do. Even though people expect safe havens to rocket during market crashes like this. I think if we keep the bearish sentiment in the markets overall it could be a great accumulation phase for gold before we take off again.
For gold, like that analysis on the 2008 price i did will refer to it after this message. If we look at a simple market view we can see a push from $1150-$1700. I’m expecting a corrective wave now (ABCD) from 1700 - 1450 - 1630 - 1330-1360 area. To take out all retail long positions or most of them. So when the corona market settles down we will be able to see a rally to $2000.-
For gold, like that analysis on the 2008 price i did will refer to it after this message. If we look at a simple market view we can see a push from $1150-$1700. I’m expecting a corrective wave now (ABCD) from 1700 - 1450 - 1630 - 1330-1360 area. To take out all retail long positions or most of them. So when the corona market settles down we will be able to see a rally to $2000.-