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Gold Indicator Flips Green, Signaling Potential Decade of Uptrend

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
2 mins read
gold green super guppy

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Gold, the original store of wealth and safe-haven asset, recently set a new seven-year high as the recession ramps up. But as the high was tapped, profit-taking began and a pullback ensued.

However, one long-term trend finding indicator has flipped green on monthly timeframes, potentially carrying gold to a new all-time high and a decade of bull run.

XAUUSD Preparing for Decade Long Bull Run, According to Indicator

This week, gold reached a high of $1,747 before profit-taking at previous bull market resistance began, causing a pullback in price.

The precious metal has been surging due to fears over a major recession hitting, causing investors to cash out stocks, cryptocurrencies, to move into gold or cold hard cash.

Related Reading | Gold Taps New High, Indicators Show Rally Has More Fuel in the Tank 

Gold took a strong hit during the initial selloff but quickly rebounded back to current prices. If the coronavirus wasn’t enough to stop gold’s uptrend, then natural profit-taking won’t make a dent.

In fact, a long-term trend finding indicator – the Super Guppy – has flipped green on monthly timeframes, signaling an extended bull market for the precious metal.

Super Guppy Turns Green, Showing That Not All That Glimmers Is Gold

The Super Guppy has flipped green on monthly XAUUSD price charts, signaling an extended uptrend is ahead.

The last time the indicator flipped green like this, gold was trading below $400, and a decade long uptrend began. A short-lived correction happened in 2008 as the Great Recession took hold of the economy, much like the coronavirus just has.

But gold quickly recovered, and rocketed toward its all-time high of over $1,900 in September 2011, just as the economy began to recover.

Gold entered a bear market after that, but a new bull market has been brewing for the better half of two years.

When global trade tensions began to increase between China and the US earlier this year, gold prices began to increase slowly and steadily. Recently, as recession fears increased, gold has been surging, growing over 7% in April alone.

Related Reading | Gold and Silver: Accurate Sell Signal Could Tarnish Precious Metal Rally 

With the Super Guppy turning green, the asset is in for an extended uptrend. However, UBS analysts warn that  XAUUSD could see a sharp correction and reversal in the back half of 2020, as the Fed’s stimulus packages begin to gain ground and show their impact in the economy.

Until then, gold is likely to surge, and given the history of success his indicator has shown in the past, the precious metal may surge for a lot longer than UBS analysts are expecting, especially as the coming hyperinflation causes valuations in hard assets to rise exponentially.

Featured image from Pixabay
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

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Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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