Gold’s latest pullback under $4,000 after reaching $4,400 has many traders questioning if the metals bull market is over. In my latest dialogue with Craig Hemke for Sprott Cash’s Valuable Metals Projections, I defined why this correction may very well be a wholesome setup earlier than the following main rally. Traditionally, these retracements usually happen simply earlier than a strong breakout. Based mostly on present technical patterns, gold might be positioning for a transfer towards $5,200, with silver probably climbing again above $60 as soon as momentum shifts once more.
This kind of consolidation is a pure a part of the emotional investing cycle, the place concern and doubt floor simply earlier than confidence returns. Technical evaluation, sentiment, and intermarket conduct all counsel energy is quietly constructing beneath the floor. For traders centered on long-term traits, these dips usually current alternative quite than danger, because the broader bull cycle in valuable metals continues to develop.
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The matters Craig and I mentioned embody:
- 00:00 Valuable Metals Projections Overview
- 01:36 Gold hits goal, pulls again
- 03:55 Fibonacci ranges and subsequent gold targets
- 05:39 Investor concern and market sentiment
- 08:46 Silver retracement zones and outlook
- 11:28 Parabolic danger and alternative
- 15:04 Gold miners response and emotion
- 16:56 GDX and assist retests
- 18:52 Seasonality for gold and silver
- 20:47 Yr-end rally expectations
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CHRIS VERMEULEN’S PREMIUM ASSET REVESTING SIGNALS:
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Espresso cheers!
Chris Vermeulen
Chief Funding Officer
TheTechnicalTraders.com
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