Gold to hit $9200 before Dec 2020
I think sentiment quality will change so rapidly, that gold will reach $9200 before the end of the year.
August 2011 20MA volume was 2.2 million, and gold was $1900.
The ratio of those is 1160.
April 2020 volume was 10.6 million.
Divide 10.6 million by 1160 = $9206
2011 sentiment level, as expressed as "1160", applied to today's volumes will push gold to $9200. With the ease of information from the internet and Robinhood-like retail traders, and algos following trends, this will happen very rapidly. Much faster than the last bull run.
August 2011 20MA volume was 2.2 million, and gold was $1900.
The ratio of those is 1160.
April 2020 volume was 10.6 million.
Divide 10.6 million by 1160 = $9206
2011 sentiment level, as expressed as "1160", applied to today's volumes will push gold to $9200. With the ease of information from the internet and Robinhood-like retail traders, and algos following trends, this will happen very rapidly. Much faster than the last bull run.
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.