Both still got sellside Liquidity - If it does actually go higher and not consolidate it's more than likely doing a 30-50% Low at most.
Gold technically could have a potential drop of 2200-2100 if it goes, that's if it goes... Might not given the circumstances.
Might take the high one last time, quick run up to finish the quarter off, consolidate, reverse the rest of the year???? Be surprised if we have a record year?
Last year projected range (Left) This year's Fib range (Right) Look at the related trade ideas - works on all timeframes obviously.
Less likely to reach the top but still possible... Correlates strongly with Gold so should expect the reversal to be roughly when Silver reaches it's Liquidity Target?
A follow up from the 15 year Cycle Gold is going through - Forget the news it's part of the cycle.
Considering the current range high to low is near 18% and Gold averages 10-15 max there can't be much upward movement left before the reversal or consolidation with a Liquidity sweep for next years run - if the DXY continues higher then it could be reversing/consolidating soon