In a recent interview by Liberty and Finance, Chris Vermeulen, a renowned technical analyst and precious metals expert, shared his insights on the current state of the gold market. Vermeulen, known for his accurate market predictions, painted a compelling picture of where gold is headed in the short term.
Key Takeaways:
- Gold nearing its peak: Vermeulen believes gold may be nearing its current upswing's peak, potentially reaching $2900 before a correction.
- Potential pullback for gold: A 25-30% pullback for gold is on the horizon, possibly reaching $1800-$1900, presenting a buying opportunity.
- Stock market correction incoming: Vermeulen anticipates a significant correction in the stock market (30-40%), coinciding with the gold pullback.
- Silver's potential: While not at its all-time high, silver could experience a further run-up to $34 before a correction.
Vermeulen's Expertise
The interview highlights Vermeulen's background in technical analysis, evident in his focus on chart patterns and historical trends. He emphasizes his experience managing his own portfolio and uses The Technical Traders platform (https://thetechnicaltraders.com/) to educate subscribers on replicating his strategies.
Bullish on Long-Term Gold
Despite the predicted pullback, Vermeulen remains bullish on gold's long-term prospects. He views the correction as an opportunity to accumulate physical metals before a potential surge driven by a financial crisis.
Counterarguments and Considerations
The interview acknowledges opposing viewpoints, particularly regarding the US dollar's role. While some predict its collapse, Vermeulen suggests it might strengthen during a crisis, impacting gold's price in USD terms.
Awaiting Confirmation Signals
Vermeulen emphasizes the importance of price action confirmation before taking action. He advises waiting for clear reversal patterns on weekly or monthly charts to identify the precise top before exiting long positions. Augusta Precious Metals $0 (10 Years) $50,000 "Best Overall" by Money Magazine, Award-Winning for 6 Years, Thousands of 5-Star Rankings Goldco Vary $25,000 Industry leader with over $2 Billion in gold and silver. Top rated precious metals company with buy back guarantee American Hartford Gold Vary $10,000 American Hartford Gold, ranked #1 Gold Company on Inc. 5000, boasts thousands of A+ BBB ratings and 5-star reviews, endorsed by Bill O'Reilly and Rick Harrison.. Vermeulen's analysis offers valuable insights for precious metal investors. While a correction looms, it might present a buying opportunity for those with a long-term perspective. As always, conducting thorough research and understanding personal risk tolerance remains crucial before making any investment decisions. Featured Partners (Ad)Expand Details
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