Said one Stool Pigeon, but I disagreed.
13 hours ago, SiP said:What gold is doing and silver, its just amazing. Completely overbought, and it keep moving higher!
Interesting that you say gold is overbought. It’s just now reaching intermediate price projections after it recently broke out of a multi-year high, with a conventional measured move objective that’s significantly higher. Short term projection was 2125. I wouldn’t sell it at least until it breaks a trendline.
This really is just the mirror image of the ongoing collapse in the dollar. If the USD gets through 1.20 to the EUR, the target would be 1.25-26. Then what will gold sell for? 2150-2200 probably.
I don’t think of moves as overbought or oversold. They’re loaded words. The only questions are, first, whether the target is reached, and second, has the trend in force been broken, signaling its end?
I do think that gold makes an intermediate top soon, now that it has crossed 2000, but …
As projections rise, prices are rising to catch up with them as concurrent up phases grow long in the tooth. But momentum and cycle indicators remain bullish. Here are the latest projections and suggestions.
