This is Gold ounce price navigation chart based on channels from previous 50 years for the next 2.5-5 years. Lines are labeled accordingly, upcoming weekly developments and explanations will be updated in comments.
The rectangular boxes are clusters of interest for longs and shorts/ position squaring and commitment for further price continuation/ reversal on the weekly time-frame. The heights of rectangles is NOT random.
The rectangular boxes are clusters of interest for longs and shorts/ position squaring and commitment for further price continuation/ reversal on the weekly time-frame. The heights of rectangles is NOT random.
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Hover over the Note tags to read the text on chart.
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Hover over the colored channels to bring them in foreground with respect to the price line.
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Important levels above 1230 to be observed are 1270-1280, 1280-1295 first. derived from the chart above.
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July 2017, price has crossed a channel holding since 2011 (magenta) to the upside. This makes the following upside levels (as can be seen by zooming in on the chart above ) to be:
1280
1295
1330
1380
1485
Downside might resume sharply if 1256 fails to hold and then the levels on the downside can be seen and will be updated if needed.
1280
1295
1330
1380
1485
Downside might resume sharply if 1256 fails to hold and then the levels on the downside can be seen and will be updated if needed.
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Feb 2018 close can be an important point for Gold, bullish prospects. 1375-1380 represent an important zone. Goodluck
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Price is back in the box 1277-1325. Bullish prospects are significant.
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and bull it is!
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Gold at very important level; near the red line. Bullish.
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important weeks have come. the red dreaded line.
Wish you all prosperous trades
Wish you all prosperous trades
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above inflation non adjusted TL on weekly. Next TL is inflation adjusted and higher (note tagged in chart).
Can you read the level? :)
Can you read the level? :)
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Right at the inflation adjusted TL. Borderline is probably 1780. Important weeks. Above monthly chart suggests 1691-1920 zone. Time will tell
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Above 1725 on weekly is significant. Eyes on week close 18-22 May 2020
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1725-2250 is ON