Ron William, director of RW Advisory, looks at the US election’s impact on the markets. He sees key targets for Gold and Bitcoin coming back into play.
William notes the following:
+ A late-cycle similarity to the contested election of 2000.
+ The Bush-Gore analog triggered a 8.5% drawdown, from a similar top pattern, that would be triggered under the pandemic gap of 3280-3340.
+ VIX is also elevated in a range between 40-20%, signalling a potential new calm before the storm signal, in-line with past compression breakout patterns.
+ Safe-haven plays, notably Gold and Bitcoin, will be strategic outperformers and unique crisis hedges into the new year of 2021, with targets of $2400 for Gold and 20,000 for Bitcoin.
Watch the full IG TV interview here.