Gold Long
FUNDAMENTAL CASE
Gold has been in a 6 year bear market and has started a bullish trend. With an inverted yield curve and a US Recession likely, Gold becomes attractive. Last Recession Gold nearly tripled over a 4 year period. Gold has just broken out of the resistance level and all the central banks are buying. The fed cutting rates, a recession, quantitive easing for recession, and US dollar index collapsing has not been priced into Gold yet. Gold has the lowest ratio to the feds balance sheet ever. Over 70 of the last hundred years gold has been valued equal to the feds balance sheet at this ratio; if it was equal now, Gold would be at $3600 an ounce.
TECHNICAL CASE
From a technical aspect gold appears to be in wave 3. It has formed a very solid uptrend. The 50 period moving has moved above the 250 day. Gold has a bullish engulfing candle on the daily, weekly and monthly candles.
Gold has been in a 6 year bear market and has started a bullish trend. With an inverted yield curve and a US Recession likely, Gold becomes attractive. Last Recession Gold nearly tripled over a 4 year period. Gold has just broken out of the resistance level and all the central banks are buying. The fed cutting rates, a recession, quantitive easing for recession, and US dollar index collapsing has not been priced into Gold yet. Gold has the lowest ratio to the feds balance sheet ever. Over 70 of the last hundred years gold has been valued equal to the feds balance sheet at this ratio; if it was equal now, Gold would be at $3600 an ounce.
TECHNICAL CASE
From a technical aspect gold appears to be in wave 3. It has formed a very solid uptrend. The 50 period moving has moved above the 250 day. Gold has a bullish engulfing candle on the daily, weekly and monthly candles.
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