GOLD 1360'S-1370'S RESISTANCE!!! CONSOLIDATION/DOWNSIDE???
Gold from the highs of 1921 :
X= 1921, A=1046,B=1375,C=1122 D=???, currently Gold has completed A,B,C for now and is in the D leg, where does the D leg end?? D=2797 (UPTO 162%*XA), HOWEVER to get there it will take time.
Since price is in the D leg from 1122, expected D leg price targets: See chart for colour coding
BLUE:
AB=1046-1375, C= 1122 D=?, D= 1455(100%)AB=CD,1545(127%)AB=CD) & D=1661(162%)AB=CD.
RED:
X=1375,A=1122, B=1295/6, C=1205, D=??, D=1388(100%)AB=CD,D=1437-1447(127%) AB=CD & XA , D=1500-1535(162%) AB=CD & XA. As the price did not fulfil 1388 AB=CD and stopped short at 1350's-1360's (88%) of 1375-1122
there is another pattern emerging where
GREEN:
X=1375, A=1122,B= 1357, C=1237, D=??, D=1472(100%)AB=CD, D=1537(127%)AB=CD, 1619(162)AB=CD.
So what now, there are 2 price zones where prices could stall:
1st confluence: 1437-1472.
2nd confluence: 1500-1537.
support level: 1330-1320/1310-1300 below then 1280-1260, break below 1237 then 1205-1122.
X= 1921, A=1046,B=1375,C=1122 D=???, currently Gold has completed A,B,C for now and is in the D leg, where does the D leg end?? D=2797 (UPTO 162%*XA), HOWEVER to get there it will take time.
Since price is in the D leg from 1122, expected D leg price targets: See chart for colour coding
BLUE:
AB=1046-1375, C= 1122 D=?, D= 1455(100%)AB=CD,1545(127%)AB=CD) & D=1661(162%)AB=CD.
RED:
X=1375,A=1122, B=1295/6, C=1205, D=??, D=1388(100%)AB=CD,D=1437-1447(127%) AB=CD & XA , D=1500-1535(162%) AB=CD & XA. As the price did not fulfil 1388 AB=CD and stopped short at 1350's-1360's (88%) of 1375-1122
there is another pattern emerging where
GREEN:
X=1375, A=1122,B= 1357, C=1237, D=??, D=1472(100%)AB=CD, D=1537(127%)AB=CD, 1619(162)AB=CD.
So what now, there are 2 price zones where prices could stall:
1st confluence: 1437-1472.
2nd confluence: 1500-1537.
support level: 1330-1320/1310-1300 below then 1280-1260, break below 1237 then 1205-1122.
