1.2840 is a confirmed target. We can target 1.2970 (top of bullish flag) and then continue down or drop without testing 1.2970. Make sure you have healthy margin if you’re going to follow this analysis.
Here is H4 gold analysis. Yes I believe we have enough bullish power to reach 1490 next week or the week after. Buying dips is a good way to go about it.
I have been busy lately so couldn’t sahre much analysis but here is short term targets: gold: 1490 long, Oil: 56.40 short and GBP/USD: 1.28 short.
Despite all this bullish move, I’m looking ahead and all i see is a drop to 1.22-1.25. The reasons for this is of course general elections which of course if Labour wins, GU price will drop by -2% and then there is brexit which we all know is less likely to get sorted out by January. We will probably be getting brexit extension for another century. Let me know...
I confirmed 1500 last week however sadly in a very rare occasion, a strong support broke meaning we didn’t get our confirmed target and that resulted in losing some of my profit and also others may have lost if they followed this call. Confirmed targets have 95% hit ratio so gold going south was a surprise. For the week ahead, there is only one clear target with...
Here is the H4 analysis for the week ahead. I will keep things straight and simple. We can bounce the trend line (blue line) and retest 1.30 or we could break the trend line and continue the drop to 1.2580. Which is more likely you may ask? 1.2580 is more likely with hit ratio 60%. 1.30 is less likely with hit ratio 40%.
Here is the MACD technical indicator. As we can see the blue and red line have crossed leaving the blue line top giving bulls the power. This suggests that long term target is 1.37 and potentially 1.44 therefore looking for a long investment is the better option on GBP currently. Of course things can still change if brexit doesn’t get sorted out by January.