The 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume. SHORT GOLD @1700-1704 TP: 1680 SL: 1715 GOOD LUCK !
Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. A pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1447 on 11/12/19 where the 4 hour is turning up. The metal is favored ended ended a wave B at 1593 where the hourly is turning down to correct the cycle from the 1611 highs. While...
Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. A pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1447 on 11/12/19 where the 4 hour is turning up. The metal is favored ended correcting the cycle lower from the 1/7/20 highs at 1611 with the bounce to the 1588 highs where the...
Gold is favored ended the cycle from 8/16/2018 lows where the daily right side is up in wave ((3)) at the 9/4/2019 highs at 1557 and a pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1446 on 11/12/19 where the 4 hour is turning up. While above there the metal can continue higher in wave I toward the 1700-1750 area before it...
Triangle pattern observed in Gold. Pattern looks to be valid and the target comes at 1477. 1438 and 1382 are the trend defining levels and so conservatively, longs can be initiate beyond 1438. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas....