This week's outlook on gold is intriguing given its recent high volatility and activity, reaching all-time highs. With liquidity now absorbed to the upside, I anticipate a shift in price direction towards the downside. This could signify the exhaustion of bullish momentum and the formation of a Wyckoff distribution pattern.
In response, I'll be observing for a...
GOLD
GOLD will try to reach 1920 because can be stabilized under the daily resistance it was in 1931 it will touch 1920 and 1911
So it moves between 1920 and 1931 until breaking to one side,
If he can settle above 1937 by closing the 4h candle then will touch 1947 and 1953
pivot price: 1931
support price: 1920 & 1911 & 1900
resistance price: 1941 & 1953 &...
In our last monthly chart update (linked below) we showed you the larger structure and the levels to look for. We mentioned that breaking above the 1835 will result in the price going to test the higher resistance levels and potentially the top of the trend. This level here is the last resistance level for bears to defend if this is to go anywhere below the 1835...
Gold is trading in a reverse triangle/opening wedge, near the ultimate 1800 level.
Even if not fundamentally significant, 1800 level is psychologically important. A big round number and also the previous resistance area.
Thus, while not implying that gold will collapse(so don't bark at me, local gold bugs), I am expecting a correction, that is due, and the...
GOLD has broken it's diagonal support, and return back to in in a pullback.
An ideal place to short. Great risk-reward.
The stop is just above the horizontal resist level+the diagonal resist line.
Fist take 1:1 risk as always.
Second take-horizontal level.
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Wish you luck in...
I can tell by the title I wrote that gold bugs are already pissed off.
Long story short, I think gold (and silver) will go further down in value.
I first want to start by saying I love precious metals including gold, but I don't think this scenario is going to play out the way any sane person would think. That's why you have me, completely lacking all sanity....
Respected followers, as we know that Gold rally was near to end and Gold is ready for fall. At current price gold has Major resistance which could push down it to 1238. Best of luck.
Gold -0.17% has completed wave (2) of a high degree and is now ready to crash , it is in the very initial part of the trend. Silver -0.20% is going to crash even harder.
"Bottoms in the investment world don´t end with four-year lows; they end with 10- or 15-year lows." - Jim Rogers
"The one who wants to protect his fortune doesn´t believe in anything but plans for everything." - Amschel Mayer Rothschild
Although its way too early for confirmation I thought it´s time to lay out a theoretical bearish scenario to make sure we are...
