Gold Price Forecast – The Christmas Breakout
In my article – Gold Prices Close to A Decisive Break, I described how gold was at a critical juncture. The trend broke higher a few days later and confirmed a cycle breakout. The next advance is underway, and I see significant potential in platinum as prices play catchup.
Your capital is at risk
Dollar Breakdown
The US dollar has rolled over and broken vital support. This should continue to fuel the Q1 advance in precious metals. The next level of support arrives between 95.00 – 95.50.
Note: The 50-day EMA is crossing bearishly below the 200-day.
Gold’s Cycle Breakout Confirmed
I’ve explained before how gold forms intermediate lows approximately every 6-months. The previous cycle peaked in September, and prices entered a prolonged cycle correction. The Christmas eve rally above $1492 confirmed a November 6-month low, and the next advance is underway.
**The breakout above the cycle trendline in gold triggered a trade alert for NUGT released to Premium members before the open on Tuesday, December 24, 2019.
Explosive Potential in Platinum
In the 2019 Metals Market Recap, I mentioned the explosive potential in platinum heading into 2020. Prices are already testing the $1000 level, and the structure looks ready to explode higher.
AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit https://goldpredict.com/