NYBob
10 horas hace
Gold Price Forecast: Hits New Highs, Eyes Further Gains Amid Strong Demand
By: Bruce Powers
Published: Feb 04, 2025, 21:49 GMT+00:00
Gold surged to a record high of $2,845, maintaining strong momentum. Key resistance and support levels will determine whether the rally continues, or a pullback starts.
https://www.youtube.com/watch?v=PaeyOUhPO6U
The FBI just revealed that 5,000 out of their 13,000 agents were focused on January 6th protestors.
39% of the entire bureau, for this:
https://x.com/EndWokeness/status/1886865234704654724
On Track to 450K Oz Gold @ $2800 Market: The Ultimate Growth Story | Oliver Dachsel - Aris Mining
The Deep Dive
32.5K subscribers
https://www.youtube.com/watch?v=I42eKeWeHeU
General Flynn > We Defeated A Coup Attempt Now The People Want Accountability ❤️
https://rumble.com/v6fseej-general-flynn-we-defeated-a-coup-attempt-now-the-people-want-accountability.html?e9s=src_v1_ucp
$1M GOLD NOT FIAT Bitcoin in 2025? | Trump's Plan to End the Fed Revealed!
I think we are certainly getting near that collapse the way that currencies are going down
and debt is going up and the way that GOLD is reflecting that.
https://rumble.com/v6feblj-1m-bitcoin-in-2025-trumps-plan-to-end-the-fed-revealed.html?e9s=src_v1_ep
Something BIG is Happening Guys! Another Plane Down And More Bizarre Things Happening
https://rumble.com/v6fqegy-something-big-is-happening-guys-another-plane-down-and-more-bizarre-things-.html?e9s=src_v1_ucp
WILL OUR CELL PHONES EXPLODE???
https://vigilante.tv/w/npAthuqtgEh4ixxw7CFnHX
https://rumble.com/v6ffxmp-j6-horror-live-exclusive-with-j6-political-prisoner-and-advocate-john-stran.html
JUST IN: Trump Announces 'I'll Be Signing Four New Executive Orders' At House GOP Event In Florida
Forbes Breaking News
4.16M subscribers
https://www.youtube.com/watch?v=IwahYXVl_8A&list=RDNSIwahYXVl_8A&start_radio=1
China Hits Back with 75% Tariffs—A Major Economic Blow to the U.S.! Electric Vehicles & Trade Wars
Piston Pundit
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https://www.youtube.com/watch?v=WGNq0vNe3tg
U.S. SHUT DOWN New Area Near Los Angeles After This TERRIFYING Incident Happened!
Discover Tube
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President Trump addresses DC plane collision | LiveNOW from FOX
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https://www.youtube.com/watch?v=lSjuyTzUZWc
The System of Money | Inside the Financial Machine | Understanding the Matrix
Moconomy
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https://www.youtube.com/watch?v=EVp5Q8_Ydm4
10,000/oz Silver if Mr. TRUMP Drains the "Silver Swamp!"? ♥️
$Patagonia Gold Corp, formerly known as Hunt Mining Corp., is a mineral exploration and production company
($PGDC : TSXV) / ($HGLD : USOTC)
The Company’s activities include the exploration and production of minerals from properties in Argentina and Chile.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175652433
WATCH "Trump’s Bold Move: The END of Silver Price Manipulation? Gold & Silver Market Shock 2025!"
Silver & Gold
618 subscribers
https://www.youtube.com/watch?v=REkbFA7HRI4
GOD BLESS
DiscoverGold
11 horas hace
Gold Hits New Highs, Eyes Further Gains Amid Strong Demand
By: Bruce Powers | February 4, 2025
• Gold surged to a record high of $2,845, maintaining strong momentum. Key resistance and support levels will determine whether the rally continues, or a pullback starts.
Bullish momentum in gold continued as it reached a new record high of $2,845 on Tuesday and demand remains strong heading into the close. Gold looks likely to close near the highs for the day, which is where it continues to trade. A strong close could lead to a bearish continuation in Wednesday’s trading session as it looks like it is heading higher.
Further Signs of Strength
Today’s advance broke through a resistance zone that stopped Monday’s rise thereby putting the next higher price targets on notice. That would be at the $2,556 price zone identified by the 127.2% retracement of the most recent large decline that followed the October peak at $2,790. However, there is also a potential resistance level identified around today’s high. Notice on the chart that a prior support trendline was tested today as resistance.
It has not yet been broken and could continue to be an area of resistance. Since the next higher target is relatively close by, it also wouldn’t be surprising to see a breakout above the line. Moreover, the price of gold could continue higher while still recognizing the line as resistance. Above $2,556 is Having said that trendlines help provide context and clues as to strength or weakness, but they are just that.
Long-term Bull Trend Continues
Gold is in a long-term bull market that continues to show signs of strength and develop in a relatively orderly manner. The current leg of the advance really got going following a breakout of consolidation in late February 2024. Since then, the 100-Day MA (not shown) has done a good job of marking dynamic support for the trend. As of late-January it started to angle up again following a period of angling down. This bullish thesis is what retains demand during retracements. But financial assets don’t rise in a straight line nor in a way that makes it easy to feel comfortable, as advances are followed by retracement and consolidation.
Possible Support During Weakness
Last week gold broke out to a new trend high as it rallied above $2,790. That price area becomes a potential support zone during retracement. If today’s low of $2,807 is busted to the downside, then the pullback may have begun. This week’s low of $2,772 is also a potential support level, along with the 20-Day MA at $2,735.
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trunkmonk
2 días hace
Trump loves gold, yet markets forget about gold, but they will remember once Trump possibly either creates a standard again or pegs it to crypto, specifically XRP. Gold is the only real money, other than Land and Animals, since the creation of man.
Very few are around anymore that understand the power of Gold, Greenspan watched Gold after every decision he made. Just like in the days of old junk bonds that ruled, crypto will get blown apart while utilities rise from the ashes in the new world financial order. it has to be backed by something, gold and silver has just begun its journey. If im right, My grandchildren will not have to worry about many, if any things worldly. Amen.
DiscoverGold
2 días hace
Gold & Silver Bull Analogs
By: Jordan Roy-Byrne | February 3, 2025
Precious Metals closed last week and January strong, particularly Gold. The ancient metal of kings closed January up over 7% and Friday at a weekly all-time high of $2835/oz.
Silver, though far from an all-time high, closed the month up over 10% at $32.26/oz. Surpassing resistance at $32-$33/oz would take it to $35/oz. Strong support is at $29/oz.
Gold’s potential measured upside targets are $3000 and $3100/oz, while Silver’s targets are $35/oz to $37/oz.
If Gold begins to outperform the stock market, then this bull market has the potential to accelerate.
Let’s consider history and our proprietary analogs.
First is Gold’s performance after it breaks to a new all-time high. It has occurred sustainably four times.
Gold over the past year has traded and trended in line with the lower of the two averages.
It may not be ready to accelerate, as this chart shows. However, the weakest of these lines shows the potential to reach almost $4000/oz in 12 months.
Next, we plot Silver’s performance after Gold makes a new all-time high.
Silver is currently touching the average line and the 1972 line.
I doubt it is ready to explode, as the chart indicates. First, it would need to surpass $35 to $37/oz.
Nevertheless, the weakest line puts it at $40/oz in six months and $43/oz in nine months.
The Gold bull analog chart plots the four strongest cyclical moves in Gold at the start of the current advance, which began in October 2023.
The average of the four moves reaches $5000/oz in 18 months, while the weaker moves reach $4600/oz and $4800/oz.
If there is a recession and market downturn, this cyclical move can and should trend beyond the average.
The Silver bull analog chart shows below the average, which breaks above $50/oz in 13 months.
Interestingly, all of the four cyclical advances accelerated after breaking $50/oz.
The average reaches $38/oz in four months and peaks at $45/oz in 10 months.
These aggressive Gold and Silver targets are only attainable if more capital rotates out of US equities and into Gold.
Hence, it is very important to monitor the performance of precious metals against the stock market.
In any case, the window to accumulate high-quality gold and silver stocks with huge potential may close soon.
We are positioned in the leading companies but actively uncovering more companies that could lead the next move higher.
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DiscoverGold
2 días hace
Gold Has a Wild Ride on Monday
By: Christopher Lewis | February 3, 2025
• The gold market initially fell hard as traders were forced to liquidate winning positions in order to cover losing ones. However, we have seen a turnaround showing signs of strength yet again.
Gold Markets Technical Analysis
Gold markets initially sold off during the early part of the session on Monday, as traders undoubtedly were looking for liquidity, they obviously would have been caught on the wrong side of a lot of trades. Basically, anything short of the dollar was losing money after the tariffs were announced. So, with that being the case, it does make a certain amount of sense that gold has seen itself sell off as people were trying to close out winning positions to pay for losing ones, but then turned around to show signs of life again and in fact, at this point, it looks like we are going to do everything we can to break out to a fresh new high.
If we can do so, that could be a major turning point and the next leg higher just waiting to happen. Ultimately, I do think that gold does break out to the upside and goes much higher, but I also recognize that we are a little extended, so it wouldn’t be overly surprising to see gold do a little bit of a parabolic move in the short term, only to pull back pretty significantly later.
I do believe gold eventually goes to the $3,000 level over the longer term, but it may take some time to get there. The quicker we get there, of course, the more likely it is that the pullback will be brutal. Regardless, I look at any pullback in gold at this point in time as a potential buying opportunity in a larger uptrend that has been very strong over the last year or two.
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surfer44
2 días hace
He probably knows about S.A from Elon...
A member of the wealthy South African Musk family, Musk was born in Pretoria and briefly attended the University of Pretoria. At the age of 18 he immigrated to Canada, acquiring its citizenship through his Canadian-born mother, Maye. Two years later, he matriculated at Queen's University in Canada. Musk later transferred to the University of Pennsylvania and received bachelor's degrees in economics and physics. He moved to California in 1995 to attend Stanford University but never enrolled in classes, and with his brother Kimbal co-founded the online city guide software company Zip2. The startup was acquired by Compaq for $307 million in 1999. That same year, Musk co-founded X.com, a direct bank. X.com merged with Confinity in 2000 to form PayPal. In 2002, Musk acquired United States citizenship, and that October eBay acquired PayPal for $1.5 billion.
trunkmonk
3 días hace
JP knows nothing and it shows, Greenspan would follow gold, and watch how it reacted when he changed rates or made decisions. It is the bellwether of all markets along with other commodities. Real money....Gold, Silver, Land, Animals, they can predict every decision ever made by men. JP showing just how much he does not understand, as stated in the article.
https://www.zerohedge.com/markets/gold-hits-new-record-high-dear-jerome-powell-everything-under-control
DiscoverGold
3 días hace
Gold & the Dow
By: Martin Armstrong | February 2, 2025
While gold performed as expected, with Thursday being either the intraday high or the highest close, which is what happened, the next turning point will be in 2 weeks - the week of Feb 10th. While the February elections in Germany are critical for an AfD victory and can lead to a crack in the EU itself, We did see the break in the government of Norway. There, the eurosceptic Center Party party has pulled out of a contentious coalition government over opposition to European energy market rules.
It would be better in the long-term for gold to decline for two weeks into the week of Feb 10th. However, exceeding the past week's high would warn of an inversion and a rally into the week of Feb 10th. Thereafter, it looks to be rather severe.
This market could still break down to the upside in the Dow to test the 50,000 level. We have resistance just below the 49.000 area. But the timing is running out. Pay attention to the arrays. Here, we may see the high for the year from as soon as February/March. I believe that Trump's tariffs will bring on an economic decline, for he does not realize that Europe looks really, really bad.
If gold backs off now, then we have a shot of a March low and a reversal in trend going into a rally for the summer, probably due to the prospects of war. Europe is in serious trouble. They may push for war as a diversion. Still, the centralized dictatorial power with the wrong policies of migration, climate change, and Russian sanctions may lead to the EU desperate to wage war or face a rebellion.
So, let's see if the past week's high holds. This could be a setup for a prelude to geopolitical tensions. Economically, Trump's tariffs will only accelerate the economic decline overall into 2028.
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DiscoverGold
4 días hace
Gold CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned
By: Hedgopia | February 1, 2025
• Following futures positions of non-commercials are as of January 28, 2025.
Gold: Currently net long 299.4k, down 1.4k.
One more week and one more new high for the yellow metal!
Friday, gold peaked at $2,863 intraday before weakening to close the session at $2,835/ounce, up two percent for the week.
Gold has now rallied for five consecutive weeks. Last week, with Friday’s intraday high of $2,795, gold bugs seriously went after $2,802, which was the intraday high posted on October 30 (last year). A breakout seemed imminent, and this has happened.
The daily is extended. Immediate support lies just north of $2,800. After this, there is support at $2,750s, and $2,540s-50s and $2,440s-50s after that.
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DiscoverGold
4 días hace
NY Gold Futures »» Weekly Summary Analysis
By: Marty Armstrong | February 1, 2025
NY Gold Futures closed today at 28350 and is trading up about 7.34% for the year from last year's settlement of 26410. Up to this moment in time, this market has been rising for this month going into February reflecting that this has been only still, a bullish reactionary trend.
ECONOMIC CONFIDENCE MODEL CORRELATION
Here in NY Gold Futures, we do find that this particular market has correlated with our Economic Confidence Model in the past. The Last turning point on the ECM cycle low to line up with this market was 2022 and 2015. The Last turning point on the ECM cycle high to line up with this market was 2024 and 2020 and 2011 and 1996.
MARKET OVERVIEW
NEAR-TERM OUTLOOK
The NY Gold Futures has continued to make new historical highs over the course of the rally from 2015 moving into 2025. However, this last portion of the rally has taken place over 10 years from the last important low formed during 2015. Clearly, we have elected four Bullish Reversals to date.
This market remains in a positive position on the weekly to yearly levels of our indicating models. Pay attention to the Monthly level for any serious change in long-term trend ahead.
Looking at the indicating ranges on the Daily level in the NY Gold Futures, this market remains in a bullish position at this time with the underlying support beginning at 27948.
On the weekly level, the last important high was established the week of January 27th at 28629, which was up 11 weeks from the low made back during the week of November 11th. So far, this week is trading within last week's range of 28629 to 27320. Nevertheless, the market is still trading upward more toward resistance than support. A closing beneath last week's low would be a technical signal for a correction to retest support.
When we look deeply into the underlying tone of this immediate market, we see it is currently still in a semi neutral posture despite declining from the previous high at 28629 made 0 week ago. Still, this market is within our trading envelope which spans between 25218 and 28632. This market has made a new historical high this past week reaching 28629. Here the market is trading positive gravitating more toward resistance than support. We have technical support lying at 27678 which we are still currently trading above for now.
Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 6 weeks overall.
INTERMEDIATE-TERM OUTLOOK
YEARLY MOMENTUM MODEL INDICATOR
Our Momentum Models are rising at this time with the previous low made 2023 while the last high formed on 2024. However, this market has rallied in price with the last cyclical high formed on 2024 warning that this market remains strong at this time on a correlation perspective as it has moved higher with the Momentum Model.
Interestingly, the NY Gold Futures has been in a bullish phase for the past 15 months since the low established back in October 2023.
Critical support still underlies this market at 26170 and a break of that level on a monthly closing basis would warn that a sustainable decline ahead becomes possible. Immediately, the market is trading within last month's trading range in a neutral position.
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DiscoverGold
4 días hace
Explosive Metals! Manic Metals Report
By: Phil Flynn | January 31, 2025
Explosives moves! Gold record highs and silver to the Bollinger band may cause some profit taking after this incredible bull run. Tarif talk and Central banks loading up is running and making a run on physical supply.
Platinum broke out trying to catch up with gold yesterday and still may have some more upside Palladium also had a good day but it’s hitting some resistance the possibility President Trump putting tariffs on both Canada and Mexico is supportive for the precious metals.
We have started to see some risk in buying gold and silver but this morning we lit up positions on gold and silver looking for a pullback and we would recommend that you do the same you don’t want to get too greedy here.
Yet demand for gold is going crazy.
Myra P. Saefong at MarketWatch reported “A rush on physical gold, thanks to President Donald Trump’s tariff plans, has fueled a rise in prices of the precious metal to fresh record highs. There are many demand drivers in gold currently, but one is adding pressure to an already tight market, said Peter Spina, president and founder of gold news and information provider GoldSeek.com. “There is incredible demand for physical gold in New York markets,” he said, referring to it as a “physical gold rush.” ‘There is incredible demand for physical gold in New York markets.’ Trump’s plan for tariffs is “creating a scramble for physical [bullion] as a threat of 25% tariffs could shoot the price of imported gold to $3,500 an ounce,” Spina told MarketWatch. “There is so much uncertainty and fear surrounding potential tariffs coming soon that buyers are desperately trying to source gold and silver before prices could skyrocket, as there is not enough domestic supply of gold to meet demand.” He would be significantly worse as several times more silver is imported, primarily from Mexico and Canada, into the U.S. to meet domestic industrial and investment silver needs, said Spina.
And you look at these out precious metals here today they’ve had an incredible run this week the sanctions obviously probably speed up the move to the upside but there’s no reason why gold shouldn’t get the $3000 an ounce I think there’s no reason why silver isn’t going to make new highs here shortly somewhere up to 50 to $70.00 platinum of course is on fire today trying to catch up with gold palladium also looks pretty good so it looks like the metals are the place to be.
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DiscoverGold
4 días hace
Gold Extends Rally, but Bearish Candlestick Hints at Pullback
By: Bruce Powers | January 31, 2025
• Gold’s bullish run reached 2,817 before retreating, forming a potential bearish one-day reversal pattern, with key support levels at 2,731, 2,717, and 2,672 in focus.
Gold continued to advance on Friday following Thursday’s breakout to a new trend high, which confirmed a continuation of the long-term bull trend. A new record high of 2,817 was reached on Friday, which was followed by a bearish intraday decline. Strong intraday selling pressure subsequently put the price of gold in the lower quarter of the day’s trading range, which is where it stands at the time of this writing.
A daily close in the lower quarter of the range will put gold in a weak short-term position, as it looks likely to end the day with a bearish shooting star candlestick pattern. Nonetheless, Thursday’s closing price was the highest historically at 2,793 and Friday may yet exceed that level. That is a bullish longer-term metric.
Bearish Pattern Setting Up
Today’s short-term bearish indications could be followed by a deeper pullback. A drop below today’s low of 2,791 will trigger a continuation of the decline and could establish at least a temporary top at today’s high. Further, it would likely lead to a deeper pullback and lower prices. Howe much lower, remains to be seen.
There are a couple of key trend support areas that need to be considered for potential support. The initial target would be the 20-Day MA, now at 2,717. Since the 20-Day line is rising, the price level it represents will also increase. Nearby that moving average is a small rising trendline that can be used along with the 20-Day MA for extra guidance if approached.
Levels to Watch if Pullback Continues
Further down is the more significance potential support around the 50-Day MA, currently at 2,672. Since it is used to help identify the intermediate trend, it has greater potential significance than the 20-Day line. It has only recently begun to move out of a consolidation zone where it has less impact and is less reliable.
However, earlier potential support levels to watch are the minor recent swing low of 2,731 along with the prior interim swing high of 2,726 (B). Prior resistance levels can turn into support on the way down and how the price of gold reacts to those price areas can provide clues about changes in supply and demand.
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DiscoverGold
5 días hace
Gold Breaking Out Again
By: Adam Hamilton | January 31, 2025
Gold is breaking out again, forging higher into new record territory! Gold’s monster upleg over this past year or so has proven remarkable, overcoming plenty of serious challenges. Yet most investors remain oblivious, hypnotized by the AI stock bubble. So gold has been widely-overlooked, with American stock investors’ allocations remaining near zero. Gold and especially its miners’ stocks still have great upside potential.
Generation-X investors probably remember the late comedian Rodney Dangerfield, whose catchphrase “I get no respect!” become famous in the 1980s. Gold reminds me of him, as it has long got no respect. Last year gold powered 27.2% higher, handily besting the benchmark S&P 500 stock index’s big 23.3% gains! And during that mighty 2024 run, gold achieved no fewer than 41 new nominal record closes!
From early October 2023 to late October 2024, gold soared an epic 53.1% higher in a rare monster-status upleg exceeding 40%! With stellar accomplishments like this, gold should’ve been one of 2024’s dominant financial-news topics fueling intense trader interest. While there was some reporting, for the most part this powerful bull market has been ignored. NVIDIA, AI, mega-cap techs, and bitcoin overshadowed gold.
I’m not throwing shade on them, their spectacular performances made them worthy of adoration. But gold deserves to share in that apex-trade limelight. Hopefully this incongruity will improve with gold breaking out again. Its last nominal record close was $2,786 in late October. Last Friday gold regained $2,770, just 0.6% shy of new-record territory. And as I pen this essay midday Thursday, gold is trading at $2,795!
Technically any close over $2,786 is an upside breakout. But to help screen out challenges of new highs that fail such as double-toppings, I’ve long preferred to look for decisive breakouts. That’s defined as a close 1%+ above the previous peak, which would be $2,814 for gold. Strong upside momentum argues that will be surpassed soon, proving gold’s monster upleg is very much alive and well and still mounting.
These strong technicals alone are impressive, but gold’s dramatic revaluation higher over this past year is truly remarkable because of upleg-slaying challenges overcome. There were several big ones in 2024, and gold’s recovery from its recent selloff is another. Investors need to understand these to appreciate what a juggernaut gold has become. They are annotated in red on this chart showcasing gold’s monster upleg.
In late 2023, gold was definitely the Rodney Dangerfield of asset classes. For several long years, $2,050 had proven a graveyard in the sky. The seemingly-insurmountable resistance there repelled sharp gold advances in August 2020, March 2022, and April 2023. Gold had long been left-for-dead, drowning in apathy. Then suddenly in early December 2023, gold finally surged to its first record close seen in 3.3 years!
Still ignored, $2,071 didn’t make any waves then. But as I analyzed in an essay that week, gold-record momentum can feed on itself. More record closes drive more financial-media coverage, broadening the awareness of rallying assets among traders. That motivates them to increasingly chase those gains, which their capital inflows accelerate. Such powerfully-bullish virtuous circles can erupt across the markets.
But gold’s initial one looked to be fizzling, with it remaining so deeply out of favor. After one more record in late December, gold slumped 4.2% into mid-February 2024. Back down at $1,991, that breakout was crumbling. The main reason was American stock investors weren’t buying gold, which is evident in the bullion holdings of the world-dominating GLD and IAU gold ETFs. Those slumped 3.9% during that span.
Birthed back in November 2004 and January 2005, GLD and IAU forever changed gold capital flows. They act as easy, efficient conduits for vast pools of American stock-market capital to slosh into and out of gold. When GLD+IAU holdings are climbing, their shares are being bought faster than gold accelerating its gains. Differential GLD+IAU-share demand forces these ETFs’ managers to issue new shares to absorb it...
* * *
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5 días hace
Gold New Highs & the Dollar
By: Marty Armstrong | January 31, 2025
Gold has waited until the end of January to finally make a new high. Our projected resistance for a critical high in gold during January has been 2899 with support at 2713. This will be 16 months up, and we must respect that gold trading is interlinked with the dollar. Gold should rise with geopolitical tensions, but we really see that starting as soon as April/May. The risk here is also the German elections on February 23rd with AfD nipping at the heels of Scholtz...
Why is this important relative to gold? January has been a critical target for the year, and take notice we have a Directional Change in February. Gold waited until the closing of January to make the move and will likely score the highest monthly closing. A political minefield in Europe in February can send the dollar higher on an AfD victory, which would soon be bearish for gold. So, this is a complex interaction right now. With a Directional Change in February, we can see a choppy move into an April low. That would be the maximum for a reaction. Any further decline would take us into a July low with a Panic Cycle in August and high volatility into year-end.
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DiscoverGold
5 días hace
Gold Strong Bullish Momentum Pushes Gold to Record Territory
By: Bruce Powers | January 30, 2025
• Gold surged to a record $2,798, maintaining strong bullish momentum. Key targets include $2,823 and higher, but support at $2,757 must hold.
Gold continued its advance on Thursday and triggered a breakout to a new record high of 2,798, at the time of this writing. The prior record high was 2,790. Bullish momentum was strong as indicated by the day’s wide range green candle and a likely close for Thursday near the highs of the day. Currently, trading continues near the highs of the day and the high could be higher before the day ends.
Watching Momentum Indications from New High
Keep in mind that bullish momentum for the current upswing began from the 2,582-swing low in December. Now that a new record high has been reached, will the bullish signal of a new high be enough to sustain momentum or increase it towards higher price levels? Certainly, the first higher targets may not see difficulty being hit, but the impact from the breakout might be stronger if the move began closer to the breakout level.
First Higher Target is 2,823
There are four initial higher targets marked on the chart but only one that has supporting indicators pointing to a similar price. And it is the first target, which by itself improves the chance of it being reached. The first target is at 2,823. It includes the 127.2% extended target for a rising ABCD pattern and an extended target from a long-term ABCD pattern begun from October 2023.
Above the first target level are several other extended targets, including 2,856, 2,874, and 2,889. Moreover, there is a measured move that, on a percentage basis, completes around 2,820. The initial measure move measurement begins from a swing low of 1,160 reached in August 2018.
Near-term Support at 2,757
On the downside, a drop below today’s low of 2,757 increases the chance for a pullback lower before higher prices. A minor swing low at 2,731 is another key short-term level as a drop below it shows a likely deeper pullback. Key trend support is around the 20-Day MA, now at 2,709. Since the 20-Day line was most recently reclaimed in early-January, it has not been tested as support. That fact increases the chance of the 20-Day line being tested as support if short-term support levels are broken and lead to a pullback.
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2 días hace
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