I am strongly convinced gold will drop to the 1215-1220 level. This level should hold, as it is very strong support. The reason I believe gold will hit this level is the smart money shorts have barely budged in the recent drop! The dollar is set for a nice rally, and looks like it will break out of its inverse head and shoulders pattern. In the money call options with expiration date a few months out could prove to be profitable (I sure hope so as I am planning on increasing my position tomorrow). The opportunity coming is the GDX has a head and shoulders pattern forming and it looks set to snap the neckline. This will most likely result in it dropping to the 21 level. This will be a big buying opportunity as I expect the price of gold to hit 1400 and could go as high as 1500 in 2018. This will result mining shares doing incredibly well. There are so many good ones out there, I'm having troubles deciding which ones to buy. You make money on the buy, so this coming down trend in mining shares will be the best opportunity to max out your returns for 2018.
Predictions
US dollar breaks above 94 and rally's to atleast 95.5
Gold drops 1220
gold mining shares have a nasty drop (most of them that is)
