I may not be a pro or an expert in the GOLD(XAUUSD) market but I think History is about to repeat itself, The last time GOLD went to ATH (at around September 2011) It gradually recovered it's lost ground until it retraced back to about 0.618 of the Fib retracement tool, that was from a monthly perspective.
Currently GOLD(XAUUSD) has made another ATH ( at about August 2020), I see Gold retracing too; First to 0.382 of the Fib (which is what it is currently doing) and next to 0.618 of the Fib. So currently I expect Gold to retrace back up to about $1769-$1800 before it continues another run to the down side and that is to $1500-$1450.
Well as I said earlier I am not a pro neither an expert of the GOLD market but this is my opinion on the GOLD market, I am expecting the BULL run that I came to hear about to start when the GOLD price is $1500 per oz
Currently GOLD(XAUUSD) has made another ATH ( at about August 2020), I see Gold retracing too; First to 0.382 of the Fib (which is what it is currently doing) and next to 0.618 of the Fib. So currently I expect Gold to retrace back up to about $1769-$1800 before it continues another run to the down side and that is to $1500-$1450.
Well as I said earlier I am not a pro neither an expert of the GOLD market but this is my opinion on the GOLD market, I am expecting the BULL run that I came to hear about to start when the GOLD price is $1500 per oz
