Wednesday, January 22, 2020
Precious metals and miners are consolidating before their next advance. Gold could reach $1700+ by March, and we see explosive potential in silver Mid-cycle consolidations are normal and part of every cycle. After rallying more than $165 from the November low, gold is taking a well-deserved breather. Bullish sentiment is waning, and the next advance should carry the uptrend into March.
-GOLD- Gold is in the midst of a natural mid-cycle consolidation. Once complete, prices should extend to the March target box and approximately $1700
Gold hit low 48775 profit 575 point copper hit low 607.35 profit 6.65 point, zinc hit low 214.70 profit 4.8 point