Metal Analysis Report 2-4-19…$1330 In Sight – Part 2

Metal Analysis Report 2-4-19…$1330 In Sight – Part 2
February 04 14:04 2019

About one week ago, I talked about Gold and how the next level gold was going to was the $1330 daily supply level.

Metal Analysis Report 1-26-19…$1330 In Sight

So after basing for the last three weeks, gold finally broke out and closed above the pivot high. Next stop $1330…but this is only the 1st stop.

Gold finally hit the daily supply at $1330 and as the chart suggested, is pulling back.

“We are big gold believers here. Now gold is at $1,300, we think gold is going to $1,400-$1,500. We suggest that everybody have a little bit of gold in their portfolio,” Cramer said on Wednesday.

As gold prices wrapped up another great session and hit fresh eight-month highs, Mad Money’s Jim Cramer said that he is a gold “believer.”

Source

Now price has to deal with all this stuff (white box), which will take some time to get through.


The next level I’m monitoring is the weekly supply at $1280.

However, I disagree with Cramer statement about gold, I think gold is going a lot higher.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.

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rollandthomas
rollandthomas

I'm a retail investor like most of you and learning everyday, but I have been educated and trained to identified the Smart Money on the charts to pick up whatever crumbs they leave behind.

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