Hubert Senters here.
Got a question here from Roger. How high do you envision copper going in the next 3 months? How high do you think gold will go?
Let’s dig into this. First let’s tackle copper so copper over the next three months. The first thing you want to figure out is what has been the. You can always depend on this. But usually if I’m doing a day chart I will look at the Average True Range for the day so if I know if something moves 4 points today then it’s probably going to move a percentage of 4 points tomorrow either plus or minus a few percentage points.
First, I’d figure that out. Let’s just go figure out like what’s the monthly average for copper. Let’s just do monthly and then I’ll go right click. Insert Analysis Technique and go Average True Range. It will give me a starting decent point to tell me about what I think happen in a month. And then I kind of back into that equation.
Looks like point 0.2,645. Average True Range is dropping. So right now in the ADX says it’s non-trending so it’s not going to trend to great right now on a monthly. But let’s go back to a daily. Now, back to a daily here on copper 0.26 so let’s say about a quarter up or down.
If I see what’s happening in the previous three months and if it’s got any other over head resistance here. Let’s go look at monthly. I can go from this area right here and get the decent target from the dead high to the dead low. Over the next three months copper can potentially go to the $3.55 to the $3.91 area.
Let’s take a look at Gold really quick at GC. GC has pretty much already tested the highs and pullback some.
But it can potentially do another measured move which over the next three months could potentially get to north of $2,000
which is probably doable. And then I would say probably in the area of $2,500-$2600.
Now, these are just my opinions. These are my observations on the markets. There’s no guarantee this will work but that’s what it looks like to me. The Wealth 365 event is in full effect today. They had a full group of speakers.
I’m going to HYPERLINK you. I will be over there later this week.
I think it’s Friday so I’m going to HYPERLINK you to the registration form. The Wealth 365 event is going on all week long. If you’re able to register and attend the webinar I recommend you do so. There’s some good speakers over there, some good entertainment, some good education. Like I said I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.
Hubert.
