On this plot we see XAUUSD bottomed 11-30-2015 and reached highest point in 07-11-2016.
Since that time price of gold moved down and touched 0.236 fibo (red zone) 12-12-2016.
As we all know 0.5 and 0.616 fibo are very important structure zones, price already bounced up and down between these two zones and managed to move up. That means bearish move was rejected.
In my perception there will be more upward move in future months.
Please pay attention that my plot is on weekly intervals that means there may be some ups and downs.I give you predict general trend and XAUUSD.
There are two major trendlines one from the top and another from the bottom.
Very similar lines are visible on XAGUSD (silver) however, on silver bearish trendline was already broken with upward move. In my opinion gold is lagging and will have to catch up with silver.
Moreover, oscillators visible at the bottom of the page indicate that upward move hasn't end up yet.
Moreover, geopolitical situation in Syria, North Korea but also interest rate increase tells me that bearish gold market is finished.
My short term prediction is very obvious... small correction.
But I'm not expecting price to move below green tunnel.
My two previous predictions on gold have been surprisingly accurate, despite top traders on this website have been betting opposite.
Since that time price of gold moved down and touched 0.236 fibo (red zone) 12-12-2016.
As we all know 0.5 and 0.616 fibo are very important structure zones, price already bounced up and down between these two zones and managed to move up. That means bearish move was rejected.
In my perception there will be more upward move in future months.
Please pay attention that my plot is on weekly intervals that means there may be some ups and downs.I give you predict general trend and XAUUSD.
There are two major trendlines one from the top and another from the bottom.
Very similar lines are visible on XAGUSD (silver) however, on silver bearish trendline was already broken with upward move. In my opinion gold is lagging and will have to catch up with silver.
Moreover, oscillators visible at the bottom of the page indicate that upward move hasn't end up yet.
Moreover, geopolitical situation in Syria, North Korea but also interest rate increase tells me that bearish gold market is finished.
My short term prediction is very obvious... small correction.
But I'm not expecting price to move below green tunnel.
My two previous predictions on gold have been surprisingly accurate, despite top traders on this website have been betting opposite.
Dark forces are trying to push down price of gold however, it doesn't work well.
Price of XAUUSD keeps moving up. It's not going to surprise me if they will continue dropping massive contracts to push price down. Only question is how long they can keep doing it.
Commercials tend to be at the positive site of the profits.
May this time they are wrong?!
Stuck in trap of 'short' contract while gold price moves up and up.
www.zerohedge.com/ne...rd-day-usdjpy-spikes