if it breaks that resistance, more upward momentum, if the resistance holds, more downward momentum.
THERE IS A STRONG RESISTENCE AROUND THE 78.6 FIB LEVELS. I'm expecting bulls to exit their positions and strong bears to enter more positions.
I am waiting for gold to test that monthly support, im expecting a retest of that monthly support.
gold is in a channel, waiting for trend line break for downward momentum
shorts are in play, if we break the trend line, we can expect a nice melt down.
if we break the trend line, we can expect more downside. if you don"t break the trend line, the market will rally up.
DXY analysis, please be free to leave a comment and tell me what you guys think.
I was hoping the market would breaks the wedge resistance line and fail so we can get a nice two leg down. Still waiting patiently.
DXY looks like it did a final push down, it could not break the 0.5 fib retracement, so we could be looking for a nice two leg up. The 0.5 fib is also sitting on a strong support which gives it more significance
dxy analysis played out well this week, caught all the moves.
GOLD DID A FALSE BREAKOUT OF A LOWER HIGHER SO WE ARE EXPECTING A NICE DOWNFALL.