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Gold 2016 Forecast

Hi,
Gold has been under the spotlight this year after it finally managed to breakout of its bearish cycle started since 2011 high. The secular cycle still remains bullish for gold price, unless we're really entering a stagnation period with deflate prices which has really low odds of happening due to the fact that the whole commodity complex is entering into a bullish cycle. Climate changes and the supply-demand imbalances will keep the commodities higher and if all commodities are moving up, Go…
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Gold - Long Term Trendline


Gold was trading to the downside quite nicely over the last few weeks, after we managed to put in place a top around $1300 level, this level was suggested as a possible top on my last update about Gold which you can find it here: Gold Down- Channel
Despite all the geopolitical tension, the Greece debt crisis, ECB QE programme and many other factors, Gold couldn't find a bid in the market and that's reason enough to conclude that the current bearish trend is still reinforcing itself and Gold is …
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Gold Down-Channel


Last time I was speaking about Gold it was trading near an important inflection point, see more here: Gold Inflection Point
Even thought I was drawing the point that the probability suggest we should continue lower, I have also been advice if we broke the trend-line that connects the 2012 highs we should take the breakout with a long position. The initial breakout lack momentum but only after SNB decision to abandon the 1.2000 EUR/CHF floor, Gold started to gain momentum.
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SalviLeana avatar

Great job :)

Daytrader21 avatar

SalviLeana Merci bien :)

Olga18375 avatar

Good luck!!!

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Bad day

Yesterday wasn't such a great day as I was caught on the wrong foot trying to short GBP/JPY. Even though the other day I was short this pair but took profits too earlier and left much of the potential profits on the table this has made me chase another short trade. Losses are part of the game but taking a loss because of undisciplined behavior is unacceptable.
And on top of that I was also short Gold yesterday but my timing was wrong and I was stopped out at the exact higher price of the day, wh…
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VictoriaVika avatar

Tomorrow will be a great day for sure! :)

Violetameynell avatar

everything will okey :) dont worry be happy !

Daytrader21 avatar

Neah, today the sh*t got bigger :) and the day was worse than yesterday.

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Gold Inflection Point


Before you start reading my current analysis on Gold I would recommend you to read my previous updates on gold with all the subsequent updates here: Gold Price Action Reminiscence of 2013
Base on my previous analysis the market has still not reach my target as I projected a target of $900 by measuring the current wedge pattern that stated with Jun 2013 bottom, and I've projected that range to the downside giving me that number.
Usually Gold performs quite well during the beginning of the year a…
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Aussie Elliott Wave Cycle Final Stage

Aussie is in the final stage to complete the Elliott Wave cycle that begin with the 2013 sell off. So far the market has corrected the sell off that started from 2013 with only 2 wave that can be subdivided in another 3 wave of smaller degree. Based on my Elliott Wave count we're in the final stage to complete the whole cycle. Right now wave C is developing and we should expect another 3 waves of smaller degree. We need a break above 0.9400 to complete wave "a" and than a resumption of the curre…
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Update 1: In the short term the upside remains favorable in order to complete another abc sequence which will forma wave C of higher degree. It appears that we're forming a small double bottom at 0.8560 and as long as this level holds expect more upside. For next week resistance is at 0.8800 level.

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Update 2: Although we break below we haven't succeed in breaking the big round number 0.8500 suggesting that the bulls may be still in charge, at least on the short term. Next week if we break below this level it may be the case we're heading lower much more sooner than i was expected.

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Update 3: The bearish trend has started resuming to soon and it may be the case my timing on this forecast to be wrong. However during this time of the year there can be big spikes in prices and as the dollar bull move may look overextended in the short term we can have a correction.

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Silver First target Hit. Gold heading towards $900

Silver and gold have been on tears this week and it comes as no surprise here as the Fed finally has put an end to the almighty QE program. Silver has been hitting my first target of $16.66 projected by the October 2011-April 2013 rectangle pattern (see Figure 1). You can check out my last article about silver through my blog history.
Figure 1. Silver Weekly Chart

It is no surprise that after Silver broke last month key support level of $18.20 it was just a matter of time for gold to follow suit…
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Gold Price Action Reminiscence of 2013


If you haven't seen up until now my last update on Silver I strongly suggest to check it out here: Metals Outlook. Silver Leading The Way Down because that's key to understand why gold is going to follow silver and break lower.
In my last update about gold, and you can check that blog post here:Gold Double Inverted H&S Bottom? I was arguing that on the daily chart we may be developing an inverted H&S pattern which was never confirmed as we need a break of the neck-line. Howe…
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VictoriaVika avatar

Fell down each single day here, in my country... Gold price suppression is undertaken through naked shorting of the metal by bullion banks?

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Join Today's Webinar with Daytrader21


Hi guys,
In less than 2 hours, 9:00GMT (10:00AM London Time) I'm going to host my webinar: Global Metal Outlook. In this webinar I'm going to examines the metal industry's current trends and opportunities in 2014. with the main focus on Gold and Silver markets. We're going to analyse both the fundamentals and technicals for a better understanding of this market. Here is the link where you can join the webinar: Webinar TV
The reason why I'm doing this webinar is because I won the 1st plac…
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Gold Double Inverted H&S Bottom?


Since I start blogging I've been giving out my outlook on gold both short term and long term, outlining the main points of why we may soon start another bullish trend but at the same time being caution of the possibility that we may get another major swing low, below the psychological level $1000, before the resumption of the gold secular bull trend. Here you can find my previous blog posts about gold: …
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CommunitySupport avatar

good job, as usual ;)

PPandM avatar
PPandM 28 juillet

... and I like that shiny stuff , (just) the same as anybody else. Community support is d*mned right, good job, as usual ;)

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Daytrader21 28 juillet

PPandM I'm working to build my own gold vault:)))

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PPandM 28 juillet

@Daytrader21: This strip cartoon is uploaded especially for YOU ... (figuratively) ... YOUR BUSINESS PLAN:1. buy vault(s) for gold (check)2. fill them with gold

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