1204 GOLD monthly chart is targeting 1200?
This is a monthly chart for GOLD.
Check the blue channel first.
For the last 3 months, gold is rejecting from the upper line of the blue channel. On such case, this blue month channel could send gold down to 1100.
However, price of gold could be supported again by the lower line of the green channel which could save gold from dropping down to break 1200. And make a new month swing up to purple to 1500.
Each way is telling a same story that on monthly chart, gold could drop down to 1200 again.
LESS IS MORE!
Check the blue channel first.
For the last 3 months, gold is rejecting from the upper line of the blue channel. On such case, this blue month channel could send gold down to 1100.
However, price of gold could be supported again by the lower line of the green channel which could save gold from dropping down to break 1200. And make a new month swing up to purple to 1500.
Each way is telling a same story that on monthly chart, gold could drop down to 1200 again.
LESS IS MORE!
