Gold Prices Will Soon Surge 50% Higher, This One Chart Reveals

chartBearish sentiment toward gold has reached historic lows, while its price has fallen only 45% since its all-time high, around 1,925, in 2011. The last time gold futures were this oversold on a monthly bar chart was back in the 1997-2001 period, when monthly stochastics tested the 10% extreme oversold threshold several times in a row, without ever bouncing to the 90% extreme overbought threshold. This has occurred again, since 2013, with stochastics making their third test of that oversold extreme now. The green ovals at the bottom of the monthly bar chart below warn that a major low is imminent!
At the same time, the green oval in the price chart highlights a cluster of indicators of a mature downtrend. This cluster implies at least a 50% rise in the price of gold futures in the coming 12 to 24 months.
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