With gold $2,200 in sight, the next stop above that level could be $2,300, which is our minimum target. It could mean a temporary top from $2,250 to $2,300.
All of the money printing coming out of 2020 and then all of the money printing over the last year to rescue the banking sector that was in trouble has finally broken the dollar. So, we're probably starting a new secular bear market.
You're up 3.5%, another $71; this has been the liftoff and you either were in the market or there was just no way to catch that market as it took off at the end of last week.
It's on in a still – this is called a breakout of this trading range and if you look at the Bollinger Band, you're now fighting it at $2159.70 to get under that number.
The most recent cup and handle pattern projects to $2350, and that cup is the handle on a larger cup and handle pattern that formed over the last two years. That cup and handle pattern projects to $2500.
