Gold at decision point: UP or back and forth?
Gold has now reached the target I gave in July of 2018. (see link below if interested). One possibility is that a 4th wave triangle consolidation is now over and gold has starting a final major wave up before a major correction. If so I would expect the price to exceed the high at "33". If however the price starts dropping from here and breaks the current uptrend line then I would favor the current consolidation is not over and we could see back and forth action for a few years. If it keeps going up I have shown a few possible targets. If it goes down I will later post possible down targets. If the US dollar starts dropping again I would think that would favor gold will rise. We'll see.
Process your way.
Take care.
Process your way.
Take care.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.