JamesPowell

supply, demand and fresh pivot in gold

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
271 views
25
gold has been on a steady decline for a long time now
normally i do not put a lot of faith in zones way over to the left like this
but there is a fresh uncrossed pivot high at this level in blue
the first demand zone is in green dotted area
the second is the one i have more confidence in simply because of the tiny little red candle represents a month of trading in that price range. Logically there would have to have been some amount of buy orders there at the time or price could not have moved up.

Comments

This analysis was very accurate. Great.
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so clean, so beautiful :)
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Thanks. I believe it has tad more down side still
+1 Reply
Carl_G JamesPowell
yes def, this was just a high in the monthly downtrend. Target for the coming years is less than 1k/ounce as the US dollar will gain a lot during the coming years before its collapse.
+1 Reply
pretty similar ^_^


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alex.a jangseohee
yes, 888 ^_^
+1 Reply
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