How to know if Bridgewater is right or wrong ?
Updated
From time to time, we get to read about Analysts prediction about a particular asset class. In this case, it's the classic GOLD. They are saying it will exceed 2000 price level and from the chart I plotted, it seems possible.
It has broken out of the long standing bearish trend line since 15 Aug 2011 and stuck in a range level from 1050 to 1400 since 13 May 2013 as well. The breakout came on 8 Jul 2019 last year!
And now we are witnessing the gold hitting a resistance level at 1615.63. Once this level is surpassed, then it has room to move to 1800 then 1900 and beyond.
More importantly, it is still riding on a nice bullish trend, selling is very short term , i.e. for correction only.
It has broken out of the long standing bearish trend line since 15 Aug 2011 and stuck in a range level from 1050 to 1400 since 13 May 2013 as well. The breakout came on 8 Jul 2019 last year!
And now we are witnessing the gold hitting a resistance level at 1615.63. Once this level is surpassed, then it has room to move to 1800 then 1900 and beyond.
More importantly, it is still riding on a nice bullish trend, selling is very short term , i.e. for correction only.
Note
Yup, this guys are right , unlikely they predicted the virus thing going to cause a spike up in GoldNote
get ready, nearly 3 weeks already, it is now hitting the resistance level at 1615.63. Go to smaller time frame like 4H to see reversal candles like bearish engulfing, pin bar, etc if you want to short GoldNote
it broke the resistance and looks set to charge higher towards 1786 as the next target. Remember this has lots of volatility so it will be a while before it gets there. Congrats to those who followed .
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