TheShortLife

Gold Price Structure Analysis

COMEX:GC1!   GOLD FUTURES
59 2 2
Studying gold             price behaviour, the weekly graph attached is what I see. Price is contained in a channel.

On weekly price looks to have headed right into resistance. It could pop over it and continue but I think here it would be a good odds trade for some puts.

In any case, there will be a nice gold             shorting opportunity once price reaches the upper resistance line of the descending channel . Could happen before summer, but I think short term US dollar             will rebound pushing gold             lower - and then if the world avoids a depression this year, US dollar             will decline and gold             should soar.
Looking at dollar index divided by gold.

Below is weekly view zoomed out:
snapshot


Below is weekly view zoomed in to the last few years:
snapshot


Looks bullish I guess, would mean US dollar rebounds and gold drops ... a reversal could be in the works in the next few weeks or so.
Reply
Here is gold on a daily chart.
snapshot
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out