Gold possible cud be heading towards sub USD1000 levels in the long term.
Hard to substain or maintain channe l in this case. Bearish Mode.
While the stock markets gripped every attention, gold slipped quietly down after creating new 52 weeks high. Formidable selling was witnessed in Gold too this week. It closed below all the important short term trend lines. The RSI was displaying a divergence, which indicates a loss of momentum. Now trading just at minor support $1529 levels. Below this $1415 &...
Next week will be the decider! Natga started reversing. Lets hope it triggers on monday. (Buy on PDH break)
Next support will be at $1490. Don't lose hope , gold will comeback soon...
Megaphone Pattern Formation in Gold Daily/Weekly Charts
Many of the investors never expected this huge drop , i don't know exactly what will happen next . but it just an idea from me ..
PRICE INSIDE CHANNEL TREND REVERSAL ON AROUND THE ZONE OR 61.8 GOLDEN RATIO
Beautiful cup and handle formation . Sice it already touched $1700 the next breakout will leads to $1750 and $1800 . Breakout can happen anywhere in this week .
I am bullish on Gold. Strong support @ 1637 - 1600 and upper side targets are 1710-1750-1765-1780-1800