Gold Pennant/Flag formation is now complete and setting up new momentum base near $1,925.
by Chris Vermeulen
If you are a follower of my research, then you know I follow gold and silver closely. I believe Gold has completed a Pennant/Flag formation and has completed the Pennant Apex. Further, a new momentum base has setup near $1,925~1,930, near the upper range of our Adaptive Fibonacci Price Modeling System’s support range. My team and I believe the current upside price move after the Pennant Apex may be the start of a momentum base rally targeting the $2,250 level or higher.
MOMENTUM BASE SHOULD PROMPT +15% RALLY IN GOLD
We believe the current momentum base in Gold, near $1,925, will prompt a move higher that will initially target $2,100, then breach this level and attempt to move to levels near $2,250 fairly quickly.