goldenBear88
Long

Multi-Year Bull cycle on Gold

TVC:GOLD   CFDs on Gold (US$ / OZ)
Once more Gold is being utilized as a safe haven as the Stocks and DX are suffering significant losses. However as before, I am making use of the DX as my key indicators to suggest the underlying trend for Gold , which remains fully Bullish , as the DX made a solid technical Low today and dipped strongly, assisted also by the impressive ISM PMI. As I determined the trend, every dip on Gold for me is excellent Buy opportunity and I will stick to this strategy for full Profit maximization. I expect Gold to just maintain this momentum, so that by Thursday Gold should reach #1,486.70. Gold is consolidating as the DX pulled back ahead of this week’s macro events. Investors are probably pricing in the worst case scenario of those missing on their forecast. This doesn't change my Bullish sentiment (what keeps Gold neutral is Bonds) with both short term #1,486.70 and long term #1,492.20 Targets. With both Daily and Weekly currently highly Bullish , it is important for December’s monthly candle to close in green in order to avoid a Bearish two candle sequence (November was -1.75%). These calculations are for my Long term strategy for the next quarterly monthly leg up that will break #1,500.20. Day scalpers consider the Ichimoku pullup and Keltner consolidation.


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