The commodity gold just broke out of a multi-month consolidation pattern. This breakout is a huge signal the market is going to hit trouble in the next month or so. The reason you know this is because gold is a store of safety. As the markets have been making new all-time highs, gold has performed amazingly well. In theory, gold should be at/near its 52-week lows based on the low volatility, lack of fear and rising stock market. Basically, gold is a risk off-trade. However, gold has been consolidating for months in a bullish manner and has just broken out (nearing the 52-week highs).
My master predictions based on complex technical charting and cycle work: In 2020, gold will get above $2,000 per ounce. Within 5 years, it will be over $5,000 according to my charting. This breakout is a huge signal smart money has been buying heavily over the last few months and smart money knows what is coming.
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