GOLD MAY JUMP $120 IN ONE DAY, SHOULD YOU BUY? $GLD $SLV $GDX $GDXJ $DUST $NUGT

Twitter
LinkedIn
Facebook

GOLD MAY JUMP $120 IN ONE DAY, SHOULD YOU BUY? $GLD $SLV $GDX $GDXJ $DUST $NUGT

On June 23rd, Britain will vote on a referendum to remain or leave the European Union (EU).  The referendum is known as Brexit.  If Britain votes to leave the EU, gold has potential to jump about $120 in one or two days.

It is understandable that the first reaction of many investors is to buy gold, but should you buy gold for the short-term for Brexit based on rigorous analytical analysis and not just on an opinion?  Let us examine the question in the following sections of this article.

Please click here for a large chart.

The annotated chart shows the logical Brexit target which is the first major resistance. The chart is of the ETF GLD.  Equivalent target for spot gold is about $1400.

If the vote to exit is by a big margin or other favorable events occur at the same time, expect gold to shoot through $1400 like a hot knife through butter.  The reason is that in futures, many short sellers will likely have their stops just above $1400.  Hunt and destroy algorithms will take these stops out moving gold to $1410 to $1420 range.  There is an upside of about $120 here.

When thinking of reward, astute investors also think of the risk at the same time.  The risk in buying is that Britain may vote to remain in the EU.  In such an event the chart shows the down side target for gold.  This is the first major support.  Equivalent in spot gold is about $1209.  Gold may first fall to $1200 where buying will likely come in causing a small bounce to about $1209.  There is a down side of about $80…Read more at Kitco.com

See also  WEEKLY STOCK MARKET DIGEST: CROSS CURRENTS IN THE STOCK MARKET CREATING OPPORTUNITY FOR SAVVY INVESTORS

You are receiving less than 2% of the content from our paid services …TO RECEIVE REMAINING 98%, TAKE A FREE TRIAL TO PAID SERVICES.

Please click here to take advantage of a FREE  30 day trial.

Check out our enviable performance in both bull and bear markets.

Subscribe to 'Generate Wealth'

Free Forever

More To Explore

30 Day Free Trial

Cancel within 30 days and you owe nothing

When you take a FREE 30 day trial, you get access to powerful techniques used by billionaires and hedge funds to grow richer. You can continue to use these powerful techniques to grow richer even if you cancel your subscription. You come out ahead by subscribing no matter how you look at it.

A fortune is to be made from AI stocks.
Get the list of 18 AI stocks to grab your share of the profits — no cost to you.

A fortune is to be made from AI stocks.

Get the list of 18 AI stocks to grab your share of the profits.

AI is a $1 Trillion Market

Making A Fortune
In Artificial Intelligence

Golden Age of Artificial Intelligence