Hello traders!
With the continuing weakness of the US-Dollar and a flood of money all over the world with subsequent devaluations of many FIAT currencies - the world's most famous precious metal remains in the interest of traders.
With the now almost fixed break of the last all-time high at the end of the month, which also represents a continuation of the monthly structure, the question arises as to where gold can run in the next ~5 years from a purely technical point of view.
For what we believe to be a realistic price target calculation, we have used a three-point measurement with a trend-based Fibonacci extension. The measurement was performed with:
Low Sep 1999 > High Sep 2011 > Low Dec 2015
You can see the result in the chart.
Tell us your opinion about this in the comments :-)
With the continuing weakness of the US-Dollar and a flood of money all over the world with subsequent devaluations of many FIAT currencies - the world's most famous precious metal remains in the interest of traders.
With the now almost fixed break of the last all-time high at the end of the month, which also represents a continuation of the monthly structure, the question arises as to where gold can run in the next ~5 years from a purely technical point of view.
For what we believe to be a realistic price target calculation, we have used a three-point measurement with a trend-based Fibonacci extension. The measurement was performed with:
Low Sep 1999 > High Sep 2011 > Low Dec 2015
You can see the result in the chart.
Tell us your opinion about this in the comments :-)