Main TREND is Down.
But this area is a battle field, and range will continue.
So two possible scenarios i track. Both bullish but corrective moves in a downtrend.
1. Gold moves to 1860 again and in Mid July tops and comes down again.
2. Gold moves up to 1880-1890 again till end of the month and comes down aftrwards.
Only if next Tuesday gold moves down sharp (and I don't think so looking how it moved last friday) could this move up be invalidated.
If gold holds the level is also bullish short term.
So, if you don´t like range, here is one more again.
Range Life
www.youtube.com/watch?v=1VVj1zqb...
But this area is a battle field, and range will continue.
So two possible scenarios i track. Both bullish but corrective moves in a downtrend.
1. Gold moves to 1860 again and in Mid July tops and comes down again.
2. Gold moves up to 1880-1890 again till end of the month and comes down aftrwards.
Only if next Tuesday gold moves down sharp (and I don't think so looking how it moved last friday) could this move up be invalidated.
If gold holds the level is also bullish short term.
So, if you don´t like range, here is one more again.
Range Life
www.youtube.com/watch?v=1VVj1zqb...
Order cancelled:
If did move sharp down, so the idea didn´t work. I am longing miners, anyway. This is a tirnung point, with lower gold prices but not miners
Comment:
I believe we are at a low level. So the idea is valid from projecting the targets from this new low. I will update when i have time, but 1820 -1830 is in the radar as a target for me
Comment:
A major botom should be placed today or tomorrow Wednesday. From there up for weeks, until mid August, very probably.
