The Winter Short - XAUUSD (GOLD)
If history & patterns prevail then we could see gold drop to 1500 by the end of 2021, which would be quite the spectacle considering since early 2018 gold has had year by year growth from the 1300s (2018), 1500s (2019), 2000s (2020) but 2021 seems to be breaking this pattern with an average of 1800 but we are currently sitting on 1760 a long way from creating a new high past 2070 in only 3 months.
The same 2011/12 crash from 1900 to 1500 in only 1 year could be in a reenactment with the same double triple tops forming after a crazy bull run showing signs of an overbought market wearing out.
However, in 2013, we saw the precious metal drop even further past 1500 on a steady descent for 3 years dropping all the way down to 1050 from 1900 in a together 4-year span before catching a breather in 2016 pumping back up to the 1300s where we consolidated around until 2020
The same 2011/12 crash from 1900 to 1500 in only 1 year could be in a reenactment with the same double triple tops forming after a crazy bull run showing signs of an overbought market wearing out.
However, in 2013, we saw the precious metal drop even further past 1500 on a steady descent for 3 years dropping all the way down to 1050 from 1900 in a together 4-year span before catching a breather in 2016 pumping back up to the 1300s where we consolidated around until 2020
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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.