GOLD AGAIN, SAFE HAVEN!

4 thg 1, 2019

Hi to my followers, please feel free to reach out / comment and brainstorm.

With extreme global woes with equity markets experiencing some major drops to begin 2019, recession gloom in the US while their government is facing issues locked in a battle, gold is shining and approaching $1,300.

$1,300 is the last price level from my previous post that will indicate EXTREME levels as this would cross into the lows that were set back in March 2018.


Yellow Prediction: Preferred scenario that we find resistance at $1,300, it provides us with a candlestick reversal on a 4hr chart, and an execution waiting for the short once it closes below the trend line.

Teal Prediction: Second scenario labelling this first move as a Wave 1, the possible pullback could constitute the Wave 2.

Magenta Prediction: Economic global woes charge gold straight up to $1,350 breaking the January 2018 Highs.

EMA: 21,50,130 Quite bullish
RSI: Extremely oversold pushing past 95!!!!!
Stochastic: Extreme levels
Wave Count: My preferred is current wave 1 with Wave 2 to follow
Fibonacci Retracement: Between 78.6% and 61.8%
Fibonacci Extension: 123.6%

The verdict: Conservative shorts will be below the trend line. If you are looking for longs, wait for a break above $1,305.

The risk: Quite a few scenarios here due to the extreme volatility with global financial circumstances. Fundamentally there are issues in EUR, US, and China. Trumps stubbornness regarding his 5billion$ wall is also causing issues within government.



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