Gold wave forecast: Is gold going to $3750 or higher?

TheTechnicalTraders/Chris Vermeulen

image of 500 gram gold bar with chart in background“Watching Gold fall to recent lows over the past few weeks has been heartbreaking for Goldbugs.  We know the real value of Precious Metals has continued to be under-appreciated over the past 24+ months – even though Gold has rallied from $1165 to over $2085 (an incredible 79%).  The recent 15% decline in Gold has shaken some investors away from the longer-term opportunities, so we wanted to share our research and highlight some simple Elliot Wave structures with you.”

USAGOLD note: Vermeulen applies the basic Elliot wave five-stage cycle to gold and predicts very bullish results. A good, basic introduction to EWT with gold as the centerpiece …… Vermeulen believes we are in the beginning stages of a “three wave” – an impulse move to the upside that is usually the most powerful in a trend and the longest in duration. It is characterized, according to Wikipedia, by quick price increases and short-lived, shallow corrections.

Repost from 12-10-2020

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