GOLD Long

After the peak in 2011 at $1923/oz Gold started declining and marked the low slightly above the $1000/oz mark. There were so many speculations about the price going much lower based on fundamentals, astrology, some awkward theories, God knows what but a very few analyzed the historical charts.

The 1st post about Gold’s rise in value against the USD has been posted back in July 2016:

This was a pure technical analysis based on Elliott Wave Principle but has been proven priceless. I was pretty much lonely in my view at that time. The right time to get in on this last impulse wave for new highs was after primary wave 1 and wave 2 are in place. The very significant level was $1290/oz.

This snapshot has been taken when price reached $1550/oz. As you can see it went straight up.

The price will go up above the $2000/oz mark again.

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