Gold Breaks Lower – What Next?7th February 2019
The Technical Traders Ltd. research team has been on top of nearly every move in the metals markets over the past 12+ months. On February 1, we posted this article: Get Ready For The Next Big Upside Leg In Metals/Miners. In this post, we suggested that the recent peak in Gold, near $1330, would likely end and prompt a downside price rotation over the next 45+ days.
Subsequently, on January 28, we posted this article: 45 Days Until A Multi-Year Breakout For Precious Metals. In that post, we highlighted our predictive modeling systems support of a sideways price correction in the precious metals markets that would align with US stock market strength and US Dollar strength.
Today, the price is moving in favor to confirm that our modeling systems and research is correct again. Gold has recently broken lower, below $1315, and appears to be targeting our lower Fibonacci projected target levels. At this point, we believe the Fib level near $1302 will offer minor support and the lower level near $1282 will become major support. We believe the psychological level at $1300 will be tested and broken over the next 30+ days as rotation above $1275 continues to play out. Remember, if our analysis is correct, Gold will provide multiple excellent buying opportunities over the next 30+ days for skilled traders to prepare for the larger upside move.
We believe the downside price breakdown is aligning with general US stock market and US Dollar strength that should last until near the end of March or early April 2019. We believe a moderately deep price rotation in precious metals will allow skilled traders to accumulate positions below $1285~1290 in preparation for the upside breakout move. Read the articles linked above to understand why this is so important for all traders to understand.
The next 2~4 months of trading activity are critical for all investors to understand the dynamics of what is at play across the global markets. Our research suggests we have about 45 days of moderate calm before precious metals begin to breakout to the upside. If you understand the importance of this move, then you’ll understand WHY you need to be prepared for this to happen.
Want to know how we can help you prepare for and profit from these moves? Do yourself a favor and read the free research of our proprietary predictive modeling systems, cycle modeling system, and Fibonacci price modeling systems. These incredible tools we use help our members stay well ahead of these market moves TheTechnicalTraders.com to read all of our public research posts.
Don’t wait till it’s too late for this one. Take a minute to see why you really need to consider having a skilled team of traders and researchers backing you up every day. 2019 is already proving to be a great year for our members as we recently locked in 10.5% with an ETF, and another 8% on stock, and we would love to help you achieve greater success this year as well.
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