GOLD Long Term Uptrend Pullback maybe done above 1676.69. 7/9/21
I have answered my own 4 questions "why" Gold may surge up to around 2100 first before moving down toward around 1570 :-
1) The Yellow Highlight Area still Look "impulsive" within "Ranging Market" as shown on a flat / no slope / none trendy daily 233 EMA.. So it's possible we're in wave B ( Red Circled) of a expanding flat pattern ABC (Red Circled)
2)Price re- bounce strongly with Pin Bar on Month of August 2021 at above Major Demand Zone & Support Line at around 1670
3) Weekly Gold Price Couldn't reach weekly 233 EMA line on its Pull Back as usual on most occasion BUT 'MAYBE" Sooner or later it will reach weekly 233 EMA at around 1570 on wave C (Red Circled) of Expanding Flat Pattern
AND Finally
4) My Cycle Analysis (which couldn't shown with tradingview tools) shown Gold's cycle is moving up until early 2022
1) The Yellow Highlight Area still Look "impulsive" within "Ranging Market" as shown on a flat / no slope / none trendy daily 233 EMA.. So it's possible we're in wave B ( Red Circled) of a expanding flat pattern ABC (Red Circled)
2)Price re- bounce strongly with Pin Bar on Month of August 2021 at above Major Demand Zone & Support Line at around 1670
3) Weekly Gold Price Couldn't reach weekly 233 EMA line on its Pull Back as usual on most occasion BUT 'MAYBE" Sooner or later it will reach weekly 233 EMA at around 1570 on wave C (Red Circled) of Expanding Flat Pattern
AND Finally
4) My Cycle Analysis (which couldn't shown with tradingview tools) shown Gold's cycle is moving up until early 2022