Looking back in time to the last major consolidation of Gold from June 2013 to March 2020, we can see Gold make a significant rally from the Last Point of Support, after encountering the 50-period moving average.
I see a similar scenario playing out, as per the chart.
If we extrapolate the prior rally to the current price movement, then 2626 would be the target and the time frame would suggest July 2024.
I see a similar scenario playing out, as per the chart.
If we extrapolate the prior rally to the current price movement, then 2626 would be the target and the time frame would suggest July 2024.