If gold were to range in between the buy and sell zone then you could potentially go much lower than 1680
I will wait to see what the reaction is to the upside next week.
If the reaction is impulsive towards 1760 then it's positive for gold.
If the reaction is more corrective and slower towards 1760...then possibly another massive drop to the 1670 area for retest/double bottom or break through to 1500 levels... Will be risking low... Could be a blood bath with stocks and a knock on effect on gold.
All ideas are speculative and not trading signals. Follow at your own risk.. And please leave a like if you've seen my previous forecast on gold and how they've played out.
I will wait to see what the reaction is to the upside next week.
If the reaction is impulsive towards 1760 then it's positive for gold.
If the reaction is more corrective and slower towards 1760...then possibly another massive drop to the 1670 area for retest/double bottom or break through to 1500 levels... Will be risking low... Could be a blood bath with stocks and a knock on effect on gold.
All ideas are speculative and not trading signals. Follow at your own risk.. And please leave a like if you've seen my previous forecast on gold and how they've played out.
Comment:
Although price is at sell zone, I wouldn't risk big now as its the second test of zone, maybe a breakout or takeout.
Didnt quite catch the sell area - oh well