Gold has not pullback yet

FX:XAUUSD   Gold Spot / U.S. Dollar
721 4 17
Dear friend's

Corrective wave had needed a jump. Wave it was done late on Friday. Now, exactly it is that we want. that is pullback on breaking trend line . indicators are prove that the short term downtrend is over now.

The valid bottom is 1241.

Two point is our target:
1st: 1,295
2nd: 1,320

Long-term trend: SHORT
Midterm trend: SHORT
Short-term Trend: LONG

Good luck,
P. Salehipour.
Thanks for sharing your chart! My view is similar:
+1 Reply
Thanks you. this is possible.
thank you for goods ideas. i agree with you for short and mid terms but in the long term picture i expect is different. over the world, we know that there are some crisis pending for explore in EURO zone, JPY&China zone fighting other diffuculties in their economies. there is only one paper that is currently shining is USD. however, we this world is such a small village and expensive USD may easly setup a domino effect and may hit itself like a boomerang. USA cant last so long its trading with expensive USD. besides 2&3 level developing countries also need cheap USD to go on their trades. Its obviously that FED has a room to rise hike a bit but after that rising i expect FED to be dovish and this will give breath to the bulls.
+2 Reply
dear @sulabas,
thanks for your comment. actually i dont follow fundamentally news like a pro and i dont know exactly what answer for you is correct, anyway, technically show that we have a roof on the longterm bearish trend. now its on the 1338, any break above 1338.00 move gold on free space to $1900.00, but, now we are reaction and back on the down trend and the target for long term is under $1000.00, thats why i am talking about the gold have not any good future. let's analysis step by step.

kind regards,
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