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GOLD break 1920; going down to retest 1883 & 1833 as predicted
Gold futures update from last 1 April post:
Gold broke my first support 1920 & nearing the 1883 next support as predicted. It is on the way to break the next 2 equally impt FIB levels 1883 & 1833. As you can see from the chart, all 3 levels are confluences of FIB levels using different ranges.
The maximum drawdown is for gold to retest 1833 which is also near the neckline of the Inv H&S from which gold broke out.
Gold still have more upside as inflation is not peaking soon due to supply issues.
Not trading advice
Gold broke my first support 1920 & nearing the 1883 next support as predicted. It is on the way to break the next 2 equally impt FIB levels 1883 & 1833. As you can see from the chart, all 3 levels are confluences of FIB levels using different ranges.
The maximum drawdown is for gold to retest 1833 which is also near the neckline of the Inv H&S from which gold broke out.
Gold still have more upside as inflation is not peaking soon due to supply issues.
Not trading advice
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