There is no change of trend in GOLD. The precious metal is still bearish. From time to time , GOLD is facing and upside correction because of an overbought situation or for short term opportunities.
But there is nothing new. Those who follow closely my analysis knows that the bottom line is 1180 or even bellow before entering long in the market and one has to wait the increase of the interest rate at the moment.
There is no rush on GOLD with such a low inflation rate.
Having said that, please allow my apologies , I dislike very much complicated and heavy graph, but this time I did an exception by including not only Fibo but ABCD Triangle pattern inside a long term trend line in order to make to correlation and as a double check...
But there is nothing new. Those who follow closely my analysis knows that the bottom line is 1180 or even bellow before entering long in the market and one has to wait the increase of the interest rate at the moment.
There is no rush on GOLD with such a low inflation rate.
Having said that, please allow my apologies , I dislike very much complicated and heavy graph, but this time I did an exception by including not only Fibo but ABCD Triangle pattern inside a long term trend line in order to make to correlation and as a double check...
