ac48

ac48

Measured against the DOW as a more accurate assessment of true value, we appeared to have bottomed out on the weekly timeframe and broken structure to the upside with Gold making new all time highs. The 78 fib has held as support on the retracement and further upside is expected on an ever-weakening dollar. I predict some consolidation around the highlighted zone...

ac48

Trend is down. Price broke out from range to the downside. Potential short trade on retest of structure.

ac48 Updated 

Potential early reversal entry after first higher low and strong rejection of lower price on 4H.

ac48

Strong price rejection again on top trend line. I’m waiting for a retest of 1915 for clarity. A bounce off this trend line looks very bullish putting in a third higher low. I target 1975 then 2014 on the upside. A break below the trend line with follow through could see further downside to retest daily/ weekly support of the low 1800s.

ac48

Hi Traders I believe there is still a good chance of retesting the 1860s as a final capitulation before the continued macro up trend. The price action inside the chart is forming an extended descending wedge rangebound between 1900-1970s which is in close correlation to the continuing uncertainty in the DXY. I predict a short term target of 1865 with a DXY target...