Gold Hits Our $1300 Price Target – What Next?

By: Chris_Vermeulen

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
www.TheTechnicalTraders.com

Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and is the author of the book: 7 Steps to Win With Logic

Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better.

His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility.

He is a regular speaker on HoweStreet.com, and the FinancialSurvivorNetwork radio shows. Chris was also featured on the cover of AmalgaTrader Magazine, and contributes articles to several leading financial hubs like MarketOracle.co.uk

Disclaimer: Nothing in this report should be construed as a solicitation to buy or sell any securities mentioned. Technical Traders Ltd., its owners and the author of this report are not registered broker-dealers or financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Never make an investment based solely on what you read in an online or printed report, including this report, especially if the investment involves a small, thinly-traded company that isn’t well known. Technical Traders Ltd. and the author of this report has been paid by Cardiff Energy Corp. In addition, the author owns shares of Cardiff Energy Corp. and would also benefit from volume and price appreciation of its stock. The information provided here within should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. Technical Traders Ltd. and the author of this report do not guarantee the accuracy, completeness, or usefulness of any content of this report, nor its fitness for any particular purpose. Lastly, the author does not guarantee that any of the companies mentioned in the reports will perform as expected, and any comparisons made to other companies may not be valid or come into effect.

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.