Chris Vermeulen's prognosis on gold direction ahead.
I had also earlier said in my posts that I am expecting gold to reach the USD 1,800-1,900/oz (previous all time high) within 4Q 19- 1Q 20 , I hope it doesn't get there too quickly - for people to trade like a flash in a pan type - GOLD is TO HOLD!!!!
After another consolidation up at USD1,800-1,900/oz, if it breaks its all time high, the gold mania would have arrived. It may or may not need the equities market to be in a crashing state. When the gold mania arrives, it could reach a stage where any gold stocks will rise [the later stages of the mania]. Gold Daily Chart
This Gold Daily chart highlights the momentum base setup between $1480 and $1525. Any entry below $1500 is a relatively solid entry point for skilled technical traders. The next upside target based on our Fibonacci price modeling tool is $1795. Thus, the real upside move potential at this point is another +20% for Gold.
