Targets acquired from multiple instrument technical analyses.
This trade is one you don't want to miss
Something ominous lurks Beyond.
X AMEX:GDXJ OANDA:XAUUSD AMEX:GLD AMEX:GLD AMEX:JNUG AMEX:GDX TVC:SPX TVC:DJI NASDAQ:QQQ AMEX:FNGU TVC:DXY
I see a chance to go long here in AUY. I bought two days ago at the small arrow. I see it as a breakout today. I believe if you look at the mining sector everything is moving higher. Price is above the supporting moving averages and moving above the trend line. I also bought JNUG and added today.
Gold price action in 2007-2008 shows how the 1980 all time high was broken.
I've compressed the time scale, cause, lets face it, things are happening faster these days.
I'll be looking for a wedge pattern...
It appears the path has been chosen. Bears may have a chance at the primary trend, but bulls look very very strong. A new all time high is in the cards for the summer season. Technically it should arrive in about 6 weeks.
Sept 1st prediction
XAGUSD this wild beast has broken free today. Who knows where he will fly to...
We have 3 major trends that will collide next week.
Should get to 1800 next week, then bounce off the primary wave for a healthy correction. But you never know with gold these days. Its quite bullish. If it breaks out of the primary wave, it will go exponential.
Gold's summer season is here and everything looks to be similar to 2011,2016, and 2019. Which means new highs all the way till September.
Miners are already starting to benefit. GDXJ might need to close the month lower, but then its 52 to ???