After the 38,2% Fib Correction and the trendline retest, the bull run on gold can continue.
Remember cup of tea/2nd impulse is activated up to 2,500.
Remember cup of tea/2nd impulse is activated up to 2,500.
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Last week gold performance was quite better than the last months. It held the support trend line and aiming higher.
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In short term we've made a double bottom in 1677$, let's see if it respects it and if it is activated.
That means that if we break 1753$ we will break the downtrend and activate an objective up to 1834$.
This will match our scenario pretty well.
If this doesn't occur, we may see more downtrend until 1568$ at maximum low point. Which in my opinion will be an excellent opportunity to buy.
That means that if we break 1753$ we will break the downtrend and activate an objective up to 1834$.
This will match our scenario pretty well.
If this doesn't occur, we may see more downtrend until 1568$ at maximum low point. Which in my opinion will be an excellent opportunity to buy.
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Trendlinde respected. We're close to activate that double bottom.
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Double bottom activated, relative behaviour has improved
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Nice behaviour this week. We are looking for 1835$