GOLD - A DECISIVE BOUNCE AT BOTTOM OF DOWN CHANNEL, NEED CONFIRMATION AT 1160
A VERY POSITIVE SIGN OF RALLY IN THE MAKING; AFTER CLEARING 16260. DECISIVELY
DESPITE LOOKING PROMISING, I AM WATCHING OUT FOR THIS RED WEEKLY DOWN-TREND LINE AT 16260
VERY BEARISH AS IT IS ON THE WEEKLY DOWN CHANNEL. 14550 IS THE POTENTIAL TARGET AREA
THIS RALLY on weekly chart lacks volume ! Are we in for REAL ??? DOUBTFUL !
IT IS CONFIRMED THAT THE RALLY IS OVER. the next potential target is down to 15000- 14800
THE PULL BACK IS HERE. I WILL WAIT TO 17150/17200 AREA. AND DECIDE WHETHER TO GO LONG
I JUST LOVE THIS RALLY. BUT GET OUT FIRST AND TAKE SOME PROFITS. SEE HOW FAR THE PULL BACK. KEEP THIS PF CHART AND MONITORING.
A POTENTIAL PF DOWN CHANNEL AND CONFLUENT POINT AT 1.09 AEA IS CRITICAL
ARE WE AT THE BOTTOM?? LOOK AT THE POTENTIAL DOWN TREND PF
IT BROKE THE LML LINE LIKE BUTTER, A VERY BEARISH SCENARIO TO 1.08 AREA
NOW WE BROKE OUT OF THE TRIANGLE. 17400 THE NEXT TARGET
US30- HIGH PROBABILITY OF CONTINUING WITH THE RALLY TO 17400 -17700
BEING IN THE UP TREND PF'S MML RANGE- 17400 IS MAJOR RESISTANT AREA
CLEARING ABOVE 16700 IS CRITICAL - 16700 IS HML OF DOWN CHANNEL
A FALSE BREAK AND A FAKE. THIS IS BEARISH