Blue: MT Bear trendline
Red: ST Corrections
Yellow: Current Support/Resistance zones
Analysis:
1) Notice how often the prices along the Middle blue bands get rejected (shown by pink ellipses).
2) This is then followed usually by a low at the bottom blue band (shown by the purple ellipses)
3) I have a conservative target of $1150 for Gold.
Red: ST Corrections
Yellow: Current Support/Resistance zones
Analysis:
1) Notice how often the prices along the Middle blue bands get rejected (shown by pink ellipses).
2) This is then followed usually by a low at the bottom blue band (shown by the purple ellipses)
3) I have a conservative target of $1150 for Gold.
