Gold – Should be higher?

Hello everyone,

this analysis is made for everyone who is interested in long-term perspectives in the precious metal sector. As I mentioned in my last analysis in August 2018 there was a significant low at $1.167. A small but profitable long trade. So far, so good!

BUT now I think gold will go down! I see three scenarios…

Scenario 1 – red/blue line, chance 30%

Gold has built a so-called leading diagonal since the low at 1.167 (wave i, beige) and is now going down to the blue circle (wave ii, beige) to start for there to new highs.

Scenario 2 – red/green line, chance 65%

Gold has built a wave 4 up since the low at 1.167 (wave 3) and is now going down to the yellow trading box and especially into the green circle (ideal target zone: $1.097) to start from there the bullrun up to new significant highs.

Scenario 3 – red line, chance 5%

Gold is starting directly up. Possible, but not very likely, I suppose. Minimum requirement for this scenario: gold is pushing through $1.281. If so, the scenarios mentioned above are invalidated!

If you have any questions or other ideas, please don’t hesitate to contact me!

Take care
tgo