Current view on GOLD - that's how I think it will continue
My current assessment of GOLD - that's how I think it will continue. The chart says it all.
This is just to share my current view. It is not a trade recommendation. Always use your own mind to decide for yourself.
Take care.
This is just to share my current view. It is not a trade recommendation. Always use your own mind to decide for yourself.
Take care.
Comment:
Update 20-Apr-2019: A possibility
Comment:
My advice for Gold outlook short-term would be to watch www.tradingview.com/chart/?symbol=FX_... very closely.
If USD goes under 6.7 CNY, Gold will take off. Just my opinion.
So far, the fact that Gold did not go significantly below the $1275 mark was, in my view, very important, and testified to several strong long-term supports that exist on this level.
IMHO, should it want to test $1255 short-term again, it will most likely rebound. And once it rises above $1288-$1290 it will just take off and fly so fast you can not look. Because: Wave 2, which started on February 20, would be completed - Wave 3 commences...
If USD goes under 6.7 CNY, Gold will take off. Just my opinion.
So far, the fact that Gold did not go significantly below the $1275 mark was, in my view, very important, and testified to several strong long-term supports that exist on this level.
IMHO, should it want to test $1255 short-term again, it will most likely rebound. And once it rises above $1288-$1290 it will just take off and fly so fast you can not look. Because: Wave 2, which started on February 20, would be completed - Wave 3 commences...
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Comment:
Attention! USD/CNY seems to be rolling over.
The last time this happened was in August 2018 after which the Gold price surged.
The last time this happened was in August 2018 after which the Gold price surged.
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Gold is taking its time. That's ok, after all it's Gold, not something else.
Strong upward trend is unbroken. Maybe just one more correction before taking off:
Possible targets:
Short-term: $1,305
Mid-term: $1,341
Long-term: $1,445
Strong upward trend is unbroken. Maybe just one more correction before taking off:
Possible targets:
Short-term: $1,305
Mid-term: $1,341
Long-term: $1,445
Comment:
Short-term target $1,305 reached:
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ADX shows the presence of a strong uptrend
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Gold price has been transforming in a way that is highly interesting.
What is the next target? $1,640 then on to $2,000?
What is the next target? $1,640 then on to $2,000?