We had a roller coaster week of ups and downs. overall though, as I have predicted from last week, we have come back down from 1900 levels.
I remain bullish long term for gold, and so far we have not seen any structural break for gold.
As mentioned before, gold is likely within a wave 4 consolidation, between a range of 1869 - 1903.
- wave 4...
I'm updating a bit more frequently on gold lately, because I see gold is at a critical junction. How this resolve will determine where we will go for the coming weeks or months.
At this point, this is a very bearish game at least for near term. a few scenarios can still play out for bulls. So I will be shorting with care, and be prepared to...
This is a special update for gold.
Im seeing gold now situated at a critical junction.
Bulls: need to hold above 1901.
Bears: this current pattern can be a bear flag in the making. (below 1892 will confirm)
- we also have a head-shoulder pattern.
Im bullish bias. volume seems to suggest more bullish moves ahead.
However, we should see...
For those who followed my forecast last week, I was expecting a correction to the current bullish trend . I was right, and we largely hit the correction target of 1870. What was unexpected was the speed of the drop. I regretfully did not put 1850-55 as the target, as that is the most important support level that bulls must pay attention to. Friday's...
Gold has remained in the bullish trend. There's so far no clear technical reversal pattern in place yet.
However, we have to be cautious this week, as we might see some deep corrections ahead of us.
- a lot of bullish news for dollar and the market last week
- DXY bounced off 89.6 support level several times, and have since moved back to...
My gold analysis is primarily based on support/resistance, fibonacci retracement and trend lines.
I believe that Gold might be trying to repeat the topping pattern formed between Aug 29, 2011 to Oct 1, 2012.
and we are at the last leg up, similar to one formed from Aug 2012 to Oct 2012.
- Gold took...