Gold Floating on Water

Gold is in a difficult place for speculation. It is floating above all time highs with no overhead resistance or historic upside to speculate on. Silver, though correlating with gold, has seen more bullish action, as its charts still preserve historic upside targets.

From a long term bullish perspective, bulls should hope to range from 1920-2070 levels. I believe this to be the most probable scenario.

Another scenario would be continued momentum for the bulls in the short term, in a somewhat parabolic move upward.

To aid in speculating on gold, look at DXY and the inverse correlation between gold and dxy!

If you enjoy my ideas, please like & follow.