GOLD HAS ALREADY REACHED THE PEAK OF THIS PERIOD AND ITS THE TIME TO CORRECT AND ALREADY CORRECTED LITTLE BIT, AS PER TREND ANALYSIS AND CHART PATTERNS AND FUNDAMENTALS IT HAS TO CORRECT AND 200 TO 300 DOLLARS. THIS CHART PATTERN WILL FAIL ONCE IT BREAK AND CLOSE ABOVE THE TREND LINE RESISTANCE
Too much attention into BITCOIN causing GOLD to sell off imo. GOLD will head much higher soon. I would buy again if it does dip, but 1769 was probably the bottom. The dollar will be at sub 89 soon enough, and it has not been around that level in 3 years. I predict bonds will fall as well. Everyone will be chasing gold sometime this year. GL all.
Gold Futures Analysis
The Idea is to go long as per Major trend, but wait the end of the price retracement before going log.
Possible Support Levels:
If the support 1700 USD will not be broken in the next months, target price might be 2100 USD
SET ALERTS FOR GOLDS DROP TO THE BOTTOM OF THE CHANNEL , LOST THE SUPPORT OF THE 200EMA AT THE PRESENT AND THE DXY MAKING A BIT OF A COMEBACK HAS PUT THE PRESSURE ON GOLD . WITH THAT SAID WE ALL KNOW THAT THE FED JUST KEEPS PRINTING SO SET ALERTS FOR THE BOTTOM OF THE CHANNEL BEFORE FILLING LONGS AND WATCH THE REACTION FIRST . TARGETS ARE LAID OUT ON CHART ......
XAUUSD moved sharply to the base and now searching for Resistance in sideway move, In fact we can not perdict gold move perfectly till it give some reasonable data. So wait for next move than only we can suggest the most probable direction.