Gold consolidating for a (potential) move to $2500 in early 2021
With gold being in consolidation mode for a few months, this is a potential path out of the bull flag and trend it's trading in. I've drawn ideal support backtests with little flushes below to shake out weak hands.
The measured move out of this trend will replicate the move up from our March generation lows, placing the target somewhere in the $2500 range. Inflation will show up in commodities/PMs as we have the regime change in the US and more stimulus packages to aid the economic recovery.
The measured move out of this trend will replicate the move up from our March generation lows, placing the target somewhere in the $2500 range. Inflation will show up in commodities/PMs as we have the regime change in the US and more stimulus packages to aid the economic recovery.