• 702 days Will The ECB Continue To Hike Rates?
  • 703 days Forbes: Aramco Remains Largest Company In The Middle East
  • 704 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,104 days Could Crypto Overtake Traditional Investment?
  • 1,109 days Americans Still Quitting Jobs At Record Pace
  • 1,111 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,114 days Is The Dollar Too Strong?
  • 1,114 days Big Tech Disappoints Investors on Earnings Calls
  • 1,115 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,117 days China Is Quietly Trying To Distance Itself From Russia
  • 1,117 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,121 days Crypto Investors Won Big In 2021
  • 1,121 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,122 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,124 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,125 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,128 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,129 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,129 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,131 days Are NFTs About To Take Over Gaming?
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Where is Gold Going from Here???

Gold just finished a 50% retracement of it's first move down from it's May 12th high to it's June 13th low. RSI is rolling over. It is now beginning it's C wave of an ABC correction that should take it to major support in the high 400's (The bottom of the long term uptrend seen from the weekly chart)or the low 500 area. This should complete by August 7. From there gold will base along the bottom of the long term up trendline for a couple of months before it's next move up to 1000. It should reach that lofty goal within a year. So if you are long, you might want to lighten up here till this next move down is over.

 

Back to homepage

Leave a comment

Leave a comment