With the printing presses in full printing mode, many people are questioning why gold prices haven’t gone higher - much higher.
In this new MarketClub video, Adam Hewison explains some of the subtle market cycles that are at play right now in this market. These short-term cycles have been the dominant force in gold all year and appear to be still in control of price action.
He believes the longer-term upward trend in gold is very much intact; short-term we could see more of a trading range that has a downward bias. I think when you watch this video you will get a much better understanding about the rhythm of this market.
If he is correct, you will see some amazing opportunities potentially in Q4. In fact, if everything goes according to plan we could all be looking at some very nice Christmas/holiday profits. He sees bottoming occurring in early October with potential highs around Christmas. Take note.
The video is easy to follow and I think you’ll learn a whole lot about cyclic price action in the gold market.
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|Gold Spot (FOREX:XAUUSDO)||Strong Uptrend|
|Smart Scan Chart Analysis continues positive longer term. Look for this market to remain firm. Strong Uptrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.|
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored +90 on a scale from -100 (strong downtrend) to +100 (strong uptrend):