This is a forecast slash guess based on the fact that $SPX is trending in the 2M and 12M timeframes, with big trends set to end by 2021 only. New highs confirm the outlook I had predicted for $SPX before (see related ideas), and sentiment getting negative on equities, despite prices climbing the wall of worry is an amazing signal for us. It's time to be 100% risk on, until March-April 2021. Sell your gold, and don't be in a rush to buy it back.
That said, $XAUUSD can present multiple trade opportunities between now and then, just don't expect any huge one directional multi month moves in metals for a long time. When we expect stocks to consolidate or correct in the short term, metals might have some upside swings, but I expect them to remain range bound.
Cheers,
Ivan Labrie.
That said, $XAUUSD can present multiple trade opportunities between now and then, just don't expect any huge one directional multi month moves in metals for a long time. When we expect stocks to consolidate or correct in the short term, metals might have some upside swings, but I expect them to remain range bound.
Cheers,
Ivan Labrie.
