I saw a very good webinar about the psychological cycle of price. Really true because the market consist of humans who are driven by feelings.
The model is on the left, looking at charts i found this pattern everywhere, specially on gold. I draw vertical lines to divide cycles. A new cycle is starting now.
According to this psychological analisis the market is cautious now (may be because of the news last week). We see a triangle pattern meaning consolidation.
I think next week investors will gain confidence and will start a bullish rally. I will publish also a technical analysis considering this aspect.
Best regards.
The model is on the left, looking at charts i found this pattern everywhere, specially on gold. I draw vertical lines to divide cycles. A new cycle is starting now.
According to this psychological analisis the market is cautious now (may be because of the news last week). We see a triangle pattern meaning consolidation.
I think next week investors will gain confidence and will start a bullish rally. I will publish also a technical analysis considering this aspect.
Best regards.