Gold Hits Our $1300 Price Target – What Next?
Early trading on January 4, 2019, saw Gold reach just above $1300 per ounce – confirming our price target from our research and posts on November 24, 2018. The importance of this move cannot be under-estimated. Traders and investors need to understand the recent rally in the metals markets are attempting to alert us that FEAR is starting to re-enter the market and that 2019 could start the year off with some extended volatility.
Our research has shown that Gold will likely rotate between $1270~1315 over the next 30~60 days before attempting to begin another rally. Our next upside price target is near $1500. We will continue to post articles to help everyone understand when and how this move will happen. We expect Gold to rotate near the $1300 level for at least another 30 days before attempting another price rally.
Pay attention to the Support Zone on this Daily Gold chart and understand that price rotation is very healthy for the metals markets at this point. A reprieve in this recent Gold rally would allow the start of 2019 to prompt a moderate rally in the US stock market as well as allow a continued capital shift to take place. As capital re-enters the global equities markets, investors will be seeking the best investment opportunities and safest environments for their capital. Our belief is that the US stock market will become the top-tier solution for many of these investments.
This Weekly Gold chart shows our Adaptive Fibonacci price modeling system and why price rotation is important at this time. The highlighted GREEN Fibonacci price target levels on the right side of this chart are projecting upside price objectives for the move that started near mid-November. We can see that $1325 (or so) is the highest target level and that $1273 to $1288 are the lower levels. This suggests that we have already reached the upper resistance range and a mild price rotation would allow for the price to establish a new fractal low rotation that would establish NEW upside Fibonacci price targets. In other words, we much have some price rotation to support the next leg higher in the Metals markets
If you’ve been following our research and comments on the past 90+ days. You’ll already know that we’ve nailed many of these market moves. The SPY, Natural Gas, Oil, Gold, Small Caps and so many more. We’ve been calling for a massive price bottom in the US stock market since well before the November 6th US Elections. Our proprietary predictive modeling systems called the huge moves in Oil, Natural Gas, Gold/Silver, and many others. If you were not profiting from these moves, then you need to visit www.TheTechnicalTraders.com to learn how we can help you in 2019. Our memberships are very inexpensive and the support we provide you is incredible for skilled traders. Want a team to help you create success in 2019, then visit www.TheTechnicalTraders.com and get started creating success.
Chris Vermeulen