GOLDWith dollar ever so slowly crippling. I feel we can see some parabolic metal action this year, last year I felt gold was in an accumulative state after breaking out from the descending channel off golds ATHs.
We did see some strength in gold, the 2nd Selling Climax showed larger professional interests absorbing the selling pressure - after wicking into the yearly level of supply, the candle stick closure also showed the strength of gold.
We also got some sings of strength from the November FOMC meeting. Despite pulling back we made some higher lows and price respected the yearly ascending trend line.
Bringing us to current price action, I feel gold starting to clear and breakout of the accumulation shows gold gearing up for a move to the upside. I will be updating this idea through the year to see how it progresses.
I'm personally targeting 2080 for gold this year.
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