Gold Technical Analysis – Next Major Resistance = $1500/oz http In this video, I look at Gold and show why $1500 is potentially the next level of support using Fibonacci Retracement. There are going to be many levels that act as support/resistance along the way to $1500 and the 1.5K mark is using a 161.8% fibonacci tool from the 2000 low and the 1029 high which was the last major resistance. If you take those same lows from 2000 and the 2004 highs. Then the move to 700 was a 238.2% retracement. This type of information is telling us that gold can break out past 161.8%. However, because the last move from 700 to 1029 worked out at the 161.8% level, that is why I am using this fibonacci tool with the 1029 high.

17 thoughts on “Gold Technical Analysis – Next Major Resistance = $1500/oz”

  1. I agree Derek and think gold is going to 1330 over the next month! Silver to 18, back to 17, and then 20 and beyond this spring. 5*

  2. Prophet Muhammad (PBUH), the Messenger of God, said that, a time will come on people, that nothing would benefit except Gold and Silver coins.

  3. connectingdots1

    Great work again Derek!

    So I finally broke down and bought gold to add to my portfolio so now I can enjoy both your gold and silver analysis.I agree with silverfuturist, you are really good at charts, so please keep them videos coming and don’t forget silver! : )

  4. there is a bubble because George Soros says so and he needs more gold for himself at cheaper prices so he can max out his his own dollars value. Make sure you listen to the banker bandits so they can take every thing from you and you wake up homeless on the land your forefathers conquered. and don’t be fooled by deflation because inflation is the next phase! without even factoring in inflation, Silver will blow everything else away, while having huge dips to stock up! Buy Silver

  5. inflation isnt the only thing driving gold up. gold can even rise during deflation. gold also rises during big political and economical crises.

  6. endlessmountain

    The money supply is going to slow down in what way? Plus, the technicals are showing NO SIGN of a bubble break when it is on the support area of the upper trend line. I trade what the charts are telling me. We have been above the 20 period on the 9day chart for over a year now.

    In addition it has not had 2 closes below the Bollinger Band 20 period line since 1998. Right now it is at the 75% mark of the Bollinger Bands.

    You mentioned zero debt? What do you mean by that?

  7. and in that case wouldn’t zero debt and cash be kind and not commodities/precious metals. Considering that the standard currency doesn’t disappear entirely though ?

  8. I understand that increasing credit and money supply causes inflation and that even if the reserve currency status ends and money flows back into the country that hyper-inflation is very possible, but even with the printing presses smoking won’t the money supply still decrease when the market housing/stock crashes again. What I am trying to say is won’t in nominal terms money disappear faster than being created causing deflation ? not inflation ?

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