Hi Traders, apologies for similar analysis to my last Gold post, but you cannot undo a posting of analysis you have posted, and I uploaded the wrong image on Gold sells. (Although the principal is the same, this is a little clearer). Here is my view on Gold sells. This should be temporary, before we see the bulls takeover. 1700 long is one of my targets for Gold :)
Nice one, I have something similar on my analysis from yesterday but only the short and not the potential long.
Bradmerry
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@jean90paul, great stuff mate! The long assumption derives from the fundamentals and mass psychology of the markets during uncertainty. Goldman Sachs also have targets of 1700 on their radar too.. which is something to consider. As we all know though, if the market is to drive to a significant number, we can always expect a pullback first to stop traders out, and for institutions to get in at discounted price. This analysis potentially backs this up. I think this could be one of the last pushdowns in a while. If the price action holds up around the target levels, I will be buying and holding! We shall see though.. All it takes is a tweet from Trump and its time to reanalyse haha