Biff_Tannen

Long term Gold Outlook

FX:XAUUSD   Gold / U.S. Dollar
190 0 1
Bullish above the yellow line or below Bearish very long term.
Expecting some pullbacks towards 30-50 SMA in conjunction with corrections on major indices.

30 SMA is penetrating or going parallel with the yellow line very soon which can act as dynamic resistance.
See period 2002             - 2009 for the exact opposite behavior. Took off and accelerated to 2011-2013 with finally break in 2013 with small pullback below in march 2013.

Keeping this in mind I expect a 2nd (1st was in April 2013) fierce downward acceleration touching the 30 SMA between now and at the end of this year.

Add on:
From a psychological standpoint I think a Gold             price under a 1000 Dollar would attract a lot of physical buyers. Ask yourself, would you buy physical Gold             at the moment?
And there are lots of traders positioned wrong and got squeezed at previous highs anticipating a bullish break out. Every time it reaches almost a previous high there is a heavy sell off. 4 times after April 2013.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out