We have also retraced 50% from the march lows to the top
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Gold Weekly uptrend is in a current consolidation cycle, hence the up and down movement on the Daily chart with no clear direction as of yet. As we zoom in intraday for multiple time frame analysis, you will see the 2 hour chart(left side) has found support at $1836 and the bands are constricting around the price action. Now with every great consolidation cycle,...
Price and rsi trends have hit the bottom channel. Should move up to the top now. Could also accumulate along the bottom trendline for a few days before moving to the top.
But its January. So watch out for breakout above trendlines...
We got some good news on the Stim bill today but it hasn't passed FR FR yet. The House and Senate will vote today on a roughly $900 billion pandemic relief package, with the White House saying President Donald Trump would sign it. The deal includes help for small businesses, the jobless and direct payments to most Americans. The bill that lawmakers will vote on...
Per 2 min & 5 min models
Gold has entered the pivot zone. The hard metal is always a hold to me personally, but it helps to study the charts to get an idea of the algorithmic driving forces and other oddities. In this case, I couldn't help but see this Nov Nov Nov trend and the math behind the madness. The pattern suggests it'll be supportive. Watch it closely the next few weeks. We need...
-Daily 200 SMA/EMA -Bottom of primary trend channel -Fib 1.618 of lower Distribution (or Reaccumulation) phase -2012-2013 triple top (previous bull market top if you discount the initial blow off top) -Fib 1.272 extension of BC to AR Distribution (or Reaccumulation ) phase -Supply zone at ~1800 -Lowest 4Hr RSI since Aug-2018 (Wyckoff spring and start of current...