GOLD - 6 Year Inverse H&S....is 2019 the breakout year????
After a 4+ year downtrend, gold is making a comeback the past 3 years. Marginal gains, but it's gains. Could a gov't supported stock market hold Gold back in 2019. Not this time.
Target = ~$1800
Time frame = Q3-Q4 2019
Factors that could impact the price (+/-):
Fed - Might not raise rates anymore this year because of stock market sensitivity
Dollar - A weaker dollar is better for Gold, but this will need to be watched closely on Fed policy decisions this year
Geo-Political - Trade wars, middle east tensions would all benefit Gold
Oil - Gold and Oil are correlated during inflationary periods. Again, with such low interest rates and Fed's inconsistency over policy decisions whenever stock market tumbles will probably mean no more rate hikes. Let's see how this impacts commodity markets in the future.
Bobby
Don't hate the hair, hate the game
Target = ~$1800
Time frame = Q3-Q4 2019
Factors that could impact the price (+/-):
Fed - Might not raise rates anymore this year because of stock market sensitivity
Dollar - A weaker dollar is better for Gold, but this will need to be watched closely on Fed policy decisions this year
Geo-Political - Trade wars, middle east tensions would all benefit Gold
Oil - Gold and Oil are correlated during inflationary periods. Again, with such low interest rates and Fed's inconsistency over policy decisions whenever stock market tumbles will probably mean no more rate hikes. Let's see how this impacts commodity markets in the future.
Bobby
Don't hate the hair, hate the game
Yorum:
Gold forming a bull flag. Can a break to near 1300 be on the table?