Gold as well as silver should do very well in the coming weeks and here's why
1) Precious metals are in a bull market so trend is your friend; buy every dip
2) A breakout has taken place after forming a proper inverse H&S pattern; this is just a re-test (see related ideas)
3) Cyclicality says that gold has fallen into its cycle date ~dec 8th so could turn around from here (this is the chart above)
TAKEAWAY:
- as usual a catalyst should show up to justify the moves in the near future; my guess is it could be cyber related
- my first target is 175 and second target is 178 on GLD
1) Precious metals are in a bull market so trend is your friend; buy every dip
2) A breakout has taken place after forming a proper inverse H&S pattern; this is just a re-test (see related ideas)
3) Cyclicality says that gold has fallen into its cycle date ~dec 8th so could turn around from here (this is the chart above)
TAKEAWAY:
- as usual a catalyst should show up to justify the moves in the near future; my guess is it could be cyber related
- my first target is 175 and second target is 178 on GLD
