Two posible scenarios
1) Bullish continuation (as the idea related linked) to 2100 or so by June this year.
2) Bearish move to the final bottom around 1720-1740 by August -September.
- A corrective strong move is pending. It could begin from this last week top or from a posible "expected" top higher at 2100 or so.
- Dollar is again at support 101 and not breaking. Daily move has already end and will begin a leg up in dollar Index from last week bottom. Could be strong and continue to semewhere around 110 in weeks.
- Gap at 1874 or so in futures should eventually be closed.
- A daily move down in gold is also high probable from last week top. If wold doesn´t hold the 1950 level or so in the next few weeks and continue UP, then MOST PROBABLE is that weekly reverse bearish.
- A move down to 1920 or so is extreme to be just corrective, and could signal a change in trend in gold.
- The only detail that does not "fit" with a bearish scenario is that miners weekly move is very small, but has also happened before in bearish trending scenarios, like 2014 or 2021.
So. Caution in any case, and see how market behaves and see if a final bottom comes in August.
1) Bullish continuation (as the idea related linked) to 2100 or so by June this year.
2) Bearish move to the final bottom around 1720-1740 by August -September.
- A corrective strong move is pending. It could begin from this last week top or from a posible "expected" top higher at 2100 or so.
- Dollar is again at support 101 and not breaking. Daily move has already end and will begin a leg up in dollar Index from last week bottom. Could be strong and continue to semewhere around 110 in weeks.
- Gap at 1874 or so in futures should eventually be closed.
- A daily move down in gold is also high probable from last week top. If wold doesn´t hold the 1950 level or so in the next few weeks and continue UP, then MOST PROBABLE is that weekly reverse bearish.
- A move down to 1920 or so is extreme to be just corrective, and could signal a change in trend in gold.
- The only detail that does not "fit" with a bearish scenario is that miners weekly move is very small, but has also happened before in bearish trending scenarios, like 2014 or 2021.
So. Caution in any case, and see how market behaves and see if a final bottom comes in August.
Trade active:
High chaces sector is at a MONTHLY TOP and a sharp correction is around the corner that could end with GOLD even under 1700 (1680 or so) back in September this year.
Trade active:
1910 level most probable mext week.
Gap in two weeks
1910 level most probable mext week.
Gap in two weeks
