As precious metals traders have waited out this extended sideways/downward price contraction in price over the past 14+ months, a very broad Pennant/Flag price formation is nearing an APEX level which suggests Gold may begin a new rally phase over the next 60+ days. Support near $1675 is a critical price level that has been tested three times over the past 8 months. The true APEX of the Pennant/Flag price formation will be reached near November 15, 2021 – nearly 30 days before the US Debt Ceiling issue will become another big issue in Washington DC.
GOLD PRICE FLAG INITIATED AFTER THE $1675 LEVEL BASED IN MARCH 2021
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GOLD PRICE FLAG SUGGESTS A BIG RALLY MAY START SOON
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