FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
In direct comparison to silver , the past trading days were extremely sobering for gold .
Since the movement low on November 20, the noble metal could only gain a meager 1%. Silver , on the other hand, shot up by a staggering 24% during the same period!

Where do we go from here?
After the previous downward impulse, gold ( XAU/USD ) is in the consolidation zone that has existed since the end of November. Currently, an exhaustion of the current movement fractal can be seen, which makes a corresponding reaction on the long side likely.
Provided that the aforementioned support level (green zone) is not sustainably undershot, the following reaction extent on the long side can be expected from a statistical point of view:

Minimum correction: 1,801 USD, probability of occurrence approx. 67%.
Normal correction: 1,811 USD, probability of occurrence approx. 50%.
Maximum correction: 1,821 USD, probability of occurrence approx. 33%.

If, on the other hand, the USD 1,764 mark is broken, further markdowns are to be expected and the situation will have to be reassessed.

Note:
Three special analysis methods are used within our trading strategy. In this article, only partial aspects were published and represents neither a complete trading system nor an investment advice or purchase recommendation.
Comment: A final stab at the bottom is currently to be expected. After its stabilisation, a counter-impulse should then occur.

Comments

I like your charts
Reply
Global-Investa Dave-FX-Hunter
@Dave-FX-Hunter, Thank you and good luck!
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out