Christopher Aaron – Focusing on the long term chart for gold to outline upside and downside targets
Christopher Aaron, Founder of iGold Advisors is back on the show to share his technical outlook for gold. It’s been a while since Christopher last joined us on the show but I have continued to follow and greatly appreciate his analysis for the metals sector.
We focus on the long term chart going back over 10 years. We discuss the potential of a cup and handle formation dating back to the prior peak in 2011. As well as the upside and downside targets for gold. We wrap up the call with a comment on the commodity complex broadly.
Click here to visit the iGold Advisor website to follow along with Christopher’s comments.
Click here to visit Christopher’s YouTube page for his recent videos.
I believe he said the handle would be an 18-month move.
It was a real pleasure to have a solid technician like Christopher Aaron as our guest on the KE Report. I’ve been following his technical analysis on youtube videos for years, (and have been posting them here on the KER for years).
Hopefully folks here appreciated getting his thoughts in today’s editorial. Cheers!
Cory/Shad,thanks for bringing Christopher back in your sphere.
+1
only bitcoin can do 2-3 k per day. gold can do 1k in 10 years. nice to know , what smart man think.
Yes, likely because Bitcoin is speculative trading vehicle, where Gold is an “uncurrency” and actual store of value, so it’s volatility is not nearly so much.
Back in pandemic crash of March of 2020, when all markets were in panic sells, Gold would pull back by 2-3% on the more extreme days, whereas Bitcoin pulled back from 12%-25% on some of the more violent corrective days. It cuts both ways…
Bitcoin Price At Risk Of Major Crash To Wipe 2021 Gains Worry Analysts
By Ramish Zafar – Jun 9, 2021
“The cryptocurrency Bitcoin might have its worst days ahead of it after it underwent its worst price shock in history these past few months, believe analysts from Evercore ISI, Tallabacken and Oanda Corp. reports Bloomberg. Bitcoin, which was trading slightly above $63,000 in mid-April, has nosedived to touch $32,000 this week after several events shook market confidence in the world’s favorite cryptocurrency. Analysts believe that should Bitcoin’s price drop below $30,000, a potential major sell-off might result in a downward spiral that results in a price of $20,000/coin.”
https://wccftech.com/bitcoin-price-at-risk-of-major-crash-to-wipe-2021-gains-worry-analysts/
Gold is looling tired here. Negative news could see it roll over back towards low 1800s.
Great Guest!
Great questions chad or shad? And Cory 🙂
Conservative approach exactly what I’m looking at but would my scenario might be slightly different which is drop now or very soon from $1969 and reverse with a monthly green. Monthly greens till august then good solid correction into October reverse breakout time from high March/April and then yes 18 months and up. That’s why it’s key to buy the miners now as they are low or maybe cost average add of some keep going down..
Really enjoyed the guest..
Glen
On June 9, 2021 at 7:50 pm,
Canuckski says:
Thanks for the note Glenfidish! I’m glad you like Scorpio, and I feel good that you bought into Brixton. I’m loaded in BBB, have a bit of Scorpio, but I’ve been holding off on layering into the miners with another round just yet. All the best, and thanks for sharing.
Anytime Canuck 😀
I’ve looked at both for a long time. Already owned Scorpio added plenty more the other day. We need to light a match under brixton. Don’t like that sprott sold some more but could be for who know what. I
It’s Shad Glenfidish, and had been stated on the site repeatedly in print, and by Cory.
Christopher if the cup took 10 years to form then how long does it take normally for handle to form?