Good morning/afternoon, how is everyone doing, it is been a while since I stopped sharing free content but I think it is about time to recap my last free post from September 2020.
Since September 2020 Gold has been going through a lengthy correction that took it down to a key moving average in the monthly chart just to come back to the same level it was 9 months ago, depicting a nice recovery which targets a higher high for this year that I forecast @USD 2300.
Last year around this time, in fact June 6th Gold began one of its best rallies recorded in the last 5 years, breaking above 1831 and shooting up to USD 2076 before initiating the correction phase down to USD 1676, it was a 20% correction (19.6% to be accurate) which did not bring the price to a bearish camp on the yearly chart.
It should also be noted that USD 1917 was the high in 2012 and the price currently stands @US 1902.
If you are brave enough you should be buying Gold at current levels with a SL @USD 1880 looking for a yearly higher high by August 2021.
I´m again bullish as I can be and you should be too.
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Disclaimer: This site is not intended to provide professional advice nor to lead users to either copy or follow the trades herein posted, it is essentially conceived to share thoughts and ideas for non-professional traders and become a non-official knowledge base for individuals interested in testing and improving their own skills in the spot Gold market.