Loii

2 SCENARIO FOR THIS 1ST WEEK OF APRIL

FX:XAUUSD   Gold Spot / U.S. Dollar
164 5 3
2 SCENARIO FOR THIS 1ST WEEK OF APRIL
1. Bigger retracement to $1290 (61% retracement on daily chart )
2. Break of $1225 and topping at$1254-$1260

Range: $1210-1224
Loii crncy
this is only the case if u think we're still in a bear market. technically if gold is above 200dma its not bearish. a retracement to 1190 is normal. the 2009-2011 rallies had 38% retracements during its rally to 1900.
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Loii crncy
btw we have already broken that resistance wedge line. even though we're below, a retest of that line is inevitable
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1290 or 1190 for scenario 1? Could you please clarify?
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Loii GoldGirl
scenario #1 is $1190
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