The weekly is turning up against the 1040 lows from 2015. The daily right side is up against the 8/16/2018 lows at 1159. The 4 hour is turning up against 1451. While above 1566 where the hourly is turning up it can see another high toward 1760 before it corrects the cycle up from the 1040 lows from 2015.
Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. The 4 hour right side is up against the 1/14/20 lows at 1535. While above 1547 where the hourly right side is up the metal can see strength continue toward the 1670-1700 area before it corrects the cycle from the 1/14/20 lows.
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+ area before it...
According to my wave count ( Elliot wave) we are going to see wave 5 soon after wave 4 will be sone at the level of 1440-1430 so we can have long position from that point by taking stop loss 1400 and target as explained in the chart.
this is just a view which is only for educational purpose, please don't invest until you have some financial advice from an expert.
Hey, We can see that last week's gold prices were flat, but this week it can go down to 1488-1480 again!!!!! but my suggestion is to strong buy at any price close to 1480 for 3-4 days holding and for intraday 1486-1487 will be considered safe. The market will open for down about 2-3$ but it will rally up, I attached the resistance levels too.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Gold is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
