This is a simple macro projection using the LMACD on the 1M chart and the MA20 and MA50.
It appears that Gold is reproducing the early 2000s bullish run that led to its All Time Highs of 1900 is 2011. The MA20/MA50 Golden Cross has taken place and those MA periods have never crossed paths again, giving way to a strong 2019/2020 rise.
The LMACD is on the Resistance of the 2004 price fractal. Back then, Gold was supported the whole year on the 1M MA20 but upon contact, never broke. This March (2020) we almost had contact with the MA20. If we have another similar event, it will be the strongest confirmation if an upcoming hyper bullish extension to $2600 (roughly +160% from the 2015 bottom as it happened in 2004 on the 1999 bottom).
Do you agree with this macro idea? Feel free to share your work and let me know in the comments section!
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Awesome job as always tradingshot. Much respect 🥇🥇💲💲✌✌
Mariobarretto
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Nice work
Simon_says
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XYZ-Trader-
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Yes, I have been accumulating Gold over the last month in anticipation of all the surplus government printing, anticipated market crash and rise inflation. Silver is also ready to rock and roll.