Gold Prepares 6th Attempt To Break Its Stubborn Bear Market Wall

IT is happening in the gold market” is what we sense. The precious metals market did already qualify as one of those 3 top investing opportunities of 2019 (with palladium major ongoing rally) but now gold (GOLD) and silver (SILVER) are about to join the party. Especially gold’s attempt number 6 to break its stubborn six-year bear market wall will be the one that will be the game changer as said in our 2019 gold forecast. If that is about to happen then silver miners are the place to be as per our silver stocks forecast 2019.

Followers of InvestingHaven’s research know by now that the number of articles we publish do reflect the potential level of juice. We have provided extensive coverage on the gold market lately which implies that there is an above average probability that the gold market will return above average returns.

Gold Prepares 6th Attempt To Break Its Stubborn Bear Market Wall

We saw a major opportunity coming in the gold market last year.

  • Mid-August last year, in the midst of panic in the gold market, we published this market call Gold Has Bottomed In 2018, Higher Gold Price Underway. Do not underestimate the courage this requires. Going against the tide at a time the gold and silver prices are crashing to secular support levels requires not only courage but also comes with a responsibility. If anything a forecaster does not want to make a fool of himself.
  • When we wrote the original version of our gold price forecast (link in the intro above) in September we saw a cup-and-handle pattern morphing on gold’s chart.

Guess what, the cup and handle not only materialized, but is also complete now.

Last summer we wrote “The pattern is likely unfolding on gold’s chart is a long cup-and-handle pattern in the context of the 7-year bear market (which is about to ‘celebrate’ its 7th full year on September 6th). The bear market may be ending with this huge cup-and-handle spread over +4 years. If this is the dominant pattern it would suggest there is a little bit of downside to the $1200 area after which the rally to $1375 will start and will get followed by the long awaited breakout by gold bulls.”

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