Gold - The pendulum has swung in both directions clearing all of the soft hands.
In July 2020 we were talking about the highs cooking for a couple of years as the price was not quite ready to explode in the ways that some thought (towards 5,000-10,000 or etc).
Sure we saw a lot of institutional interest and activity levels are still high with risk leaving a damp smell in the air, however, the chart suggests that we have further downside to come. Technicals can extend as low as 1518 and still maintain the multi-year trend higher.
I am actively looking to load more gold but at a lot lower levels, and timing wise most likely not until we have seen liquidations in in Q1 2022. Until then, my near term bearish setup is in play with all eyes on 1518 - 1509. Invalidation in the view comes with a breach of 'b' in this corrective fourth wave.
I am bullish. It has been trading near its resistance for 6 days now. It may retrace back to its support around 1750 USD but in general I think we go higher not lower. Anyways, lets see what happens. Good luck!
mostafaomrani
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Opps
lonercapitalist
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Nah man. Gold is bullish. The ABC is already completed.
sachforex_
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any update about gold ??
ForexTrendline
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Good job mate, keep it up! This is what we see on GOLD
UnknownUnicorn4430035
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@ForexTrendline, it was a good analysis-forecast for August 20! 👍 Possibly now it's time to climb...
usdclub
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YES,i agree.
chunkuya1000
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yes always possible after long ride the big players always looking for fishing like they will get more profit and buy after scary people but I think we still bullish on monthly imo