Their late-to-the-party buying could trigger a parabolic blowoff, but one that could see gold rise to not only the inverse H&S pattern target of $3300 but to $4000 or $5000.
I will not bore you with the mathematical details as to how I calculated the resistance, but 31.73 is coming up as a very strong point for me over the coming week.
Fed rate cuts are generally friendly to the metal markets...it appears to me that these cuts are meant to take place as you still have sticky inflation, and that doesn't hurt gold either.
We expect higher prices in gold next week. We are now rallying in wave ^iii^, which could he heading to our next projected endpoint of: ^iii^ = 4.236^i^ = 2936.80! Active Positions: Long, with puts as stops!
