Gold’s Longer term Cycle Outlook
I am very Bullish on Gold after the next long-term Intermediate Cycle Low forms in Gold (after the US Election?). The 2,400-2,500 level in Gold will likely be tested by next Spring, IMO. Still waiting for the next low, however, before I back up the truck on Gold & Silver Mining Stocks. Longer-term the USD is headed much lower and Inflation is coming, IMO. Just too much money printing by the US Government as the US Debt is fast approaching $30 Trillion.
ADDED: My long-term Price Channel or Fork looks quite solid and once price moves above the centerline to test the top rail, the centerline is usually strong support in any move into an ICL.
My longer-term Cycle outlook on #Gold is still very Bullish once its next 6 Month Intermediate Cycle Low (ICL) forms. #Silver #GDX #GDXJ #NUGT #JNUG pic.twitter.com/GFALNrKmzT
— Surf City (@SurfCity_Cycles) October 28, 2020
Remember the old Trading proverb “When you are Yelling, you should be Selling” and “When you are Crying, you should be Buying”….