‘Calm before the storm’; brace for gold, stock markets ‘breakdown’
Both stocks and gold are showing technical chart patterns that suggest an imminent correction, said Chris Vermeulen, chief market strategist at TheTechnicalTraders.com. there are some sectors that are getting stronger, like energy and the financial sectors. Markets are still in a bull market, and gold broke out in 2019 after being in a multi-year basing formation. Chris expects the price to continue chopping around although there is strong price support for gold from the post-covid purchasing spree.
