There is also a possibility of it, going to 1400. If it doesn't hold 1420.
D27Cookie
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@MrDivine, ok brother you also long above 1425 for safe trade thank you...
PaulDeep19131
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@MrDivine, No imo Cookie is correct. We likely bottomed out for now at 1412 earlier today with key bullish divergence. We may re-test it but we won't stay below.
Gold has disconnected from DXY as of this week ironically, and is in a long B wave. I don't foresee Gold staying below 1400 for a few years. I have no idea why have one day drop off people all of a sudden say Gold will drop to 1350, lol. It's literally happened every single time since we hit 1380.
1415 (current based when I wrote this) --> possible 1412 re-test --> 1450 --> 1428 --> 1495 --> 1441 --> over 1500. 1700 before Q1 2020.
DetectivePikachu
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@zSplit,
Yeah, I agree on that point where people become instantly bearish when gold drops like 20-30 points in a day. Even though Gold has proven itself that it can break the 1440 = bullish. I can see that it can test 1400 but staying below, no way.
Almost every country in the world has started to cut interest rates/QE because of the feds since most countries currencies is linked to the dollar.
My predictions are: 1410/1400 retest --> 1450/1460 ---> 1424 --> after that same thing as yours.
Like I've said many times on tradingview, Golds highs are not as key as Golds lows. People focus on the fact Gold hasn't consistently made new highs every-time but that is irrelevant. Gold and Silver never move linearly and to think people believe it will no matter how bullish of a run it is, is a joke.
What is key though is Golds overall trends and downturns have gotten higher (i.e. the lows are getting higher) each major movement. Its gone from 1384 to 1395 to now 1412. I see 1428 as the next major downturn trough but not until we reach near 1450.
To be brutally honest with you I don't think Gold drops below 1400 for about 2 years.
DetectivePikachu
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@zSplit,
Yeah, I've been noticing that gold has lows has been getting higher. Gold highs are not as important but as long as it's trending up imo. Yeah, I thought Gold & Silver moved linearly together until I tested it with the moon phase. But that wasn't the case, gold barely budged and silver just went up.
First, it was 1384 > 1395 > 1402 > 1410-1412? Maybe?
I don't think, It will drop below 1400. But there is always that unlikely hood of dropping.
PaulDeep19131
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@DetectivePikachu, Yup. I think 1412 was the low earlier today. False bear flag.
Next low will be around 1428 but not before we get to 1447-50. Then 1494ish and we re-test around 1441. That's not to say they don't deviate from these numbers and false bear flags are possible, but I'm stating the general trend.
Right now Gold to Silver ratio is at about 86:1. Silver has alot of catching up to do until its around 60-65:1; its only a matter of time before Silver gets to 19-20.00 and beyond. It could happen at anytime. What I think is Silver will go up with Gold but Silver will continue to slowly keep crawling up soon when Gold retraces.
There is also a possibility of it, going to 1400. If it doesn't hold 1420.