FX:XAUUSD   Gold Spot / U.S. Dollar
138 0 2
About 6 months ago I published a chart trying to make sense of the upward a-b-c wave ... At that point in latest April this year ... I mentioned it would hit "heavy resistance at 1231 or thereabouts" marking 1232.73 on the chart, which it did ...

"It may try to take out the multiyear lows, and have a crack at the upper 1000's." Which it also did.

I marked out a line at ~ 1081 which bar a couple of short spikes down held as support (This line runs from 2008 high, and the bottom of a corrective wave in 2010)

"Because there are significant multi-year support lines in the upper 1000's and the confluence of the descending channel it's being forced bit by bit into a corner."

We had a break of the down channel to the upside for the first time in mid-October.

The wave formation very much suggests an ending diagonal very near completion. Whether this is the end of the entire wave, and a momentous multi-year low of gold             , we will see. (Or possibly A will turn out to be 1, and C, 3)

I expect a final-low-for-now drop from the current price of 1088, say 1030-ish ( gold             drops hard to predict) then a jump to around 1300. A $270-$300 climb does not appear unrealistic.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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