After a huge wave down from 1294 gold is now not only reaching its lower range but also the 72 EMA on the daily time frame. This will touch this in the 1245-1248 region. Usually when a 72 ema breaks the price continues to move for a bit in that direction. As you can see sometimes the price also bounced back from the 72 ema instead of breaking it.
By the look of...
So far gold has been moving nicely around in this channel. Indicators show that price might decline to the lower range at 1245 at this point either the range will break or there will be a bounce back up that will got above 1300. However we also see that in the past the price already bounced back up halfway the channel. Since the current price is also halfway the...
I have previously discussed some probable count for Gold and would like to add to this possibility this particular count which points that a small leg up still remains before we see the Wave 2 of 3 correction.
Basically if this count plays out then we will see Gold going atleast till the most recent high 1295 and even 1300 levels before giving the all important...
Gold is looking to break the 2011 downward trend line.
If you look at the RSI, you can see that gold has been in consolidation since early 2013.
I truly believe we will break the trend this year, with fundamentals supporting this move.
We may not initially break the trend this month, however the only downside risk I see is to the 1230-1240 area (my thin...
In my previous forecast I was expecting that the market will turn around 1260 region which is exactly what happened.
It seems that the market is now going down in a corrective structure and should face support near the 1235 to 1220 region.
I might have to make some changes to my previous counts, but that is all some technical stuff, the market is basically...
In the last article I talked about the bearish count which is my main count, but looking at this very impulsive move we must consider the alternate scenario and hence I'm writing this article.
As per the presented count I have considered that the Wave 2 progressed as a Running Flat type of correction and ended around 1195.
Course of Action :
If the market...
Hello there,
This gartley already completed but might dip down giving you an opportunity to buy. On the chart we see price respecting the blue pitchfork trendline where on the last touch D of the pattern was born. We have very nice fib confluence of the 78.6% level.
Goodluck
