Gold showing bear flag in 4H sell below 1940 to 1960 target 1750 to1770 .. stop loss 2010 ... Hope we get opportunity to load Gold to resume uptrend in the long term. Some on social media are calling sub 1000 for Gold ... i will wait for chart pattern to indicate that possibility...
My understanding is looking at Gold between 1999 to 2011 (Right when US Fed chief cut rates to boost financial markets) ... During that period Gold increase 6.58 times and the way current QE is going on it can even raise 7 to 10 times the current price till 2030.. Long term Gold looks to be good.
Analysis of Gold behavior in 1999 to 2011.. it is quite common to Gold to reverse 40 to 50% retracement of rally and then surge ahead .. I will not surprised even if we go down 1620 and then start new Strong rally on Gold.. Hope Market will provide answer for this..
Please note that I am sharing what i see in the chart...i do not have bias and this is important for our success in financial market...
My understanding is looking at Gold between 1999 to 2011 (Right when US Fed chief cut rates to boost financial markets) ... During that period Gold increase 6.58 times and the way current QE is going on it can even raise 7 to 10 times the current price till 2030.. Long term Gold looks to be good.
Analysis of Gold behavior in 1999 to 2011.. it is quite common to Gold to reverse 40 to 50% retracement of rally and then surge ahead .. I will not surprised even if we go down 1620 and then start new Strong rally on Gold.. Hope Market will provide answer for this..
Please note that I am sharing what i see in the chart...i do not have bias and this is important for our success in financial market...