Gold, some history and the future

17 Des 2020

Get ready for the yellow metal to take off! First of all a historic pattern on gold, see annotated chart. We're currently setting up a similar pattern. Notice the 1980's top followed by a triple top formation that took ages to play out. When the formation completed it was followed by a breakout making record all time highs in 2008. Gold made a three wave corrective structure to support (the triple top formation) to begin it's rally to the new all time highs made in 2011. And now comes the fascinating part. We have a triple top formation again on gold, followed by a breakout to new all time highs. Gold completed also a three wave corrective structure and bounced higher now. With gold entering a seasonal bullish period, it's time to hop on the gold bus!