Our Adaptive Dynamic Learning predictive modeling system is suggesting gold will rally above $1650 within the next 2 to 4 weeks, then settle into a narrow price range above $1600. If you’ve followed our analysis of gold, you already know we expect the metal to rally above $1750 this year and to continue to move higher, attempting to breach the $2100 level. It is just a matter of time as far as we are concerned as Metals begin a massive upside rally as global debt markets become an issue throughout the world.
Right now, there is a very clear opportunity for gold to rally nearly $100 over the next few weeks. Our ADL predictive modeling system is suggesting this should begin soon and will likely propel the price of gold to levels above $1640 before March 15. Of course, as we’ve seen before, if price stays below the $1600 level for another few weeks, this 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.
This weekly ADL chart of gold highlights the predicted price movement higher, above $1640, then sideways afterward – setting up a new momentum base. You can see how gold enters rally phases, then bases for 5 to 10+ weeks. We believe this next move higher will be a continued advancement leg in gold that may prompt a short momentum base before another rally sets up near April/May 2020.
This monthly gold chart highlights our overall trend expectations going out 8+ months. We think this upside price rally will ultimately target levels above $1800. It will likely attempt this move in multiple upside price legs containing various pause/momentum basing events. Yet we believe the ultimate upside objective in gold is $1800 to $1850 before a new downside leg sets up. That downside leg will end fairly quickly, then the next wave of buying will push the price above $2100 and, ultimately, much higher.
This is an excellent opportunity for skilled traders 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.
If you have not yet seen our silver and silver miner charts and predictions see this article.
Modeling Suggests Gold Will Break Above $1650 Within 15-30 Days
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