Gold in early stages of secular bull cycle
SINCE the start of 2017, gold has been moving perfectly in an uptrend manner as it formed a series of higher highs (HH) and higher lows (HL), which is the textbook definition of an uptrend. This immediate uptrend is moving in line with our expectations of gold forming a cyclical bottom back in December 2015 at US$1,046, and it is currently in the early stages of a secular bull cycle. Our cycle analysis has US$1,920 as the target for the current secular bull market.
More recently in August 2017, gold finally broke above the crucial US$1,300 psychological resistance area thereby forming another HH point within the uptrend. However, as the escalation from North Korea simmered down with the absence of missile tests, gold sold off and enter…
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