Carl_G
Long

GOLD NEAR TERM OUTLOOK

FX:XAUUSD   Gold / U.S. Dollar
177 1 4
As price closed well above $1209 and price approaching oversold conditions, creating a divergence to the upside, a test to recent highs of $1239 is likely. Looking at the Monthly chart MIDAS R1 is containing price perfectly and is expected to hold the closing price of the month. A change in trend have yet to occur, this is for now simply a high in the downtrend that will take us below the $1000 mark in the long term. This move in price will be reflected on the EUR/USD             and USD/CHF             as they are heavily correlated with GOLD             .
Comment: "When we look at the volatility and panic cycles starting next week, it appears the crisis may emerge in Europe." - Martin Armstrong

"We can see how this crisis could help an extended gold rally." - Martin Armstrong

To find out more, visit: https://www.armstrongeconomics.com/markets-by-sector/foreign-exchange/euro/euro-near-collapse/
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