$Gold Futures(APR5) (GCmain.US)$ Woahhhh, trippy. If we zoom...
$Gold Futures(APR5) (GCmain.US)$Woahhhh, trippy. If we zoom all the way out on the quarterly time frame we can see a clearly defined wedge pattern. If this is legit it would indicate that gold futures will either go up to ~4000-4100 or down to ~900-1000 over the course of the next decade or so. Considering that all fiat currency is inflationary over time my bet would be that "real money" will go up. On the weekly time frame price is above the demand zone in blue, and could come as low as ~2400 and still be in bullish demand.
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Derpy Trades
OP103179640
:
As long as the demand zone holds it should go back up in the coming weeks and months. It could also fall into demand and consolidate for a while. Gold IS near its longest running resistance line on the futures though, so you can never rule out that it breaks demand.
Derpy Trades
OP103179640
:
I can't give financial advice. It will likely hit 3,000 at some point, but not 30,000. In my personal opinion I'd say it's more likely futures will consolidate for a while because it obviously just hit major resistance. The chart of GOLD is near the support line of its ascending channel, and GLD is close to demand. It really depends on what chart you're looking at.
103179640 : So do u think the price will go up or down for november and december
Derpy Trades OP 103179640 : As long as the demand zone holds it should go back up in the coming weeks and months. It could also fall into demand and consolidate for a while. Gold IS near its longest running resistance line on the futures though, so you can never rule out that it breaks demand.
103179640 : So will it go to 30000 by end of this year
do u think the possible of going down higher or lower for this 2 months
103179640 : Any advise
Derpy Trades OP 103179640 : I can't give financial advice. It will likely hit 3,000 at some point, but not 30,000. In my personal opinion I'd say it's more likely futures will consolidate for a while because it obviously just hit major resistance. The chart of GOLD is near the support line of its ascending channel, and GLD is close to demand. It really depends on what chart you're looking at.