Predictive Modeling Suggests Gold Will Break above $1,650 Within 15~30 Days
The comments below are an edited and abridged synopsis of an article by Chris Vermeulen
Vermeulen’s predictive modeling system is suggesting that gold will rally above $1,650 within the next two to four weeks, then settle into a narrow price range above $1,600. He expects gold to rally above $1,750 this year and to continue moving higher, attempting to breach the $2,100 level. It is just a matter of time as to when precious metals begin a massive upside rally as the global debt markets become an issue throughout the world.
There is a clear opportunity for gold to rally nearly $100 over the next few weeks. This should begin soon, and will likely propel gold to levels above $1,640 before March 15. Of course, as we’ve seen before, if price stays below the $1,600 level for another few weeks, it will set up a price anomaly where the price will, at some point, attempt to rally aggressively to the upside to make up the difference.
Vermeulen discusses the weekly Adaptive Dynamic Learning (ADL) gold chart and the monthly ADL gold chart, and concludes the article with: “This is an excellent opportunity for skilled traders to attempt to buy gold or silver near current levels before the upside breakout pattern drives prices 4% to 6% higher ($75 to $100). Pay attention to our research and be prepared for these bigger sector swings. 2020 is going to be a great year for technical traders.”