katlea

katlea

ascending triangle from downtrend - link for daily chart idea

katlea

For those of you who like me, like to see things from a different perspective; this is a total flip from what I posted last night. Fundamental backdrop: I don't believe that the gold price has finished its consolidation from the covid19 pandemic because it's still ongoing and very much what everyone is concerned about. I'm of the impression that each...

katlea

Fundamental backdrop The jobs market in the US is in a state of chaos at the moment with another record print for weekly jobless claims and a record matching 701K non-farm payroll number this afternoon. It has to be said the data was for March but missed out the last two weeks of initial jobless claims due to the cut off period. This means that the true numbers...

katlea

•Gold is trading over 1% higher as news in the US markets sends investors looking for the safe-haven. •There is a trendline that could be a resistance point for the yellow metal in close proximity. Today there has been some volatility in risk assets such as the indices after the US weekly initial jobless claims data reached another record level (+6K). Gold...

katlea

Short term - SHORT ascending triangle Medium term - SHORT head and shoulders Long term - LONG double bottom

katlea

Price is still in consolidation, a break below 1590 support should lead to a breakdown to around 1500, forming the second shoulder. Head lowest point around 1450. Buy from 1500. Short term - consolidation up to 1590 Medium-term - Short 1500 Long term - Long 1750-1800

katlea Updated 

I still firmly believe the price has to drop to 1450 price zone in order to gather sufficient buyers to resume bullish momentum. Short term - SHORT GOLD Buy dips.

katlea

I think price will drop to retest 1450 price zone in order to gather significant buyers to push price out of the descending channel to break around 1608 and price should there after rise to 1800.