[VIDEO] Gold Price Update, Nov 15, 2019

Gold Price Chart

Video below

Gold Price – Breakdown, or Another Leg Higher?

Picking up from last week’s video, I wanted to do a deep dive into gold, particularly because there is a diversity of opinions regarding whether we break down from here or we make another leg higher. In this video, I address a recent chart from JC Parets at All Star Charts and my opinion regarding his analysis in the short term.

The big question is whether gold has completed a fifth wave from the $1170 low (setting up and A-B-C correction), or whether the recent high was only wave 3, setting up a fifth wave higher. I am of the latter opinion.

As always, we would love to hear your feedback whether you agree or disagree.

About the author

I am the founder of fibonacci.com and an avid trader. I am also the co-founder of Texas Precious Metals, a top US precious metals company. In 2006 I was a contestant on The Apprentice with future president, Donald Trump. I live in Coeur D'Alene, Idaho, with my wife and five children, where I spend my time hiking, charting, and changing diapers.
1 Response
  1. ChaoXianHe

    Hello Tarek:

    Watched your Nov. Gold video a couple of times, it is so amazing like you had a crystal ball. Looking back from where we are now, i have a few questions: 1) you mentioned there will be a A/B/C pull back after bursting into 1580-1620 area, you also mentioned in another video that you will be looking to add position around 1540, so is this pull back towards 1370 area still to come? if not where you will be looking to buy? 2) miners in particular junior are suppose to stage a rally which did not quite happened. what is the latest view on junior in terms of level they can target and timing for it to happen? 3) do you offer any trading/subscription service pls/

    Kind Regards

    David

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