XAUUSD Looks Ready to Target $2,380 in 2021 | Metals Mine

  • XAUUSD Looks Ready to Target $2,380 in 2021

    From dailypriceaction.com

    Gold (XAUUSD) looks ready to break out and make its 2021 debut at higher prices. If you saw my forecast on November 28th, you know gold was likely to find support between $1,700 and $1,790. Sure enough, XAUUSD caught a bid at $1,765, which is the location of the first channel support shown above and, of course, between $1,700 and $1,790. Earlier this morning, I mentioned to Daily Price Action members that I felt gold was about to rocket higher at any time. A few minutes later, XAUUSD surged $25 to where it is now around $1,865. If gold can close the day above $1,850, it would open the door to channel resistance near ... (full story)

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Basill
Dec 8, 2020 4:47am
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All the "so called experts" are calling for gold to climb the mountain to 2300 plus in 2021. some are even saying the bottom of the present retrace is in.!!!

Maybe so. Maybe not. Chances are they are right. Chances are there are still more lows to come before the big push.

The magnetic lines show a possible lower low around 1620. The present (Dec) monthly candle also shows signs of dissatisfaction & in-completion.

The US$ DXY is also showing similar signs with a possible retrace to 93 & even 99.

Time will tell. I for one will hedge my bets & milk Gold both ways until a clear path is found.
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