aibek

Gold pulls back to the broken trendline

FX:XAUUSD   Gold Spot / U.S. Dollar
This is a monthly chart. I used simple trendline analysis to show a bird-eye view.
Gold is moving up to retest the broken orange trendline around $1570.
Watch the reaction there. If it fails then another leg down to follow as it shown on the chart.
There will be a pullback but not as strong as you suggest, I'm expecting XAUUSD to move down to maximum 1375$/oz then the price will keep going up and up.
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aibek Simon_says
@Simon_says, Hi thanks for sharing your opinion, let us see. Wave 4 should be huge and complex so this could be just a simple correction though.
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sorry but not going to happen
+1 Reply
aibek faris.makki
@faris.makki, Hi, thanks for comment, it's possible until the price is above $340 according to EW count. Let's see nobody sees the future.
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HARD WORK .... BUT USE 1D FRAME
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aibek ShivamVerma
@ShivamVerma, Hi, thanks for a feedback. This monthly chart was meant to show the bigger picture.
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