GOLD - CONTINUATION or SHORT TERM CORRECTION ??
The hope of making vaccines as soon as this year and the opening of several countries in the midst of this pandemic has corrected gold prices and moved below the FR 78.6% weekly and could potentially create a flag pattern on H1 time frame. But at the same time Donald Trump returned to threatening China with its trade war tariffs amid a pandemic that made gold prices bounce back last week. If seen from the pattern that might occur, there is a potential Bearish rising wedges where the gold price will try to penetrate the FR 78.6% and will try to test the FR 88.6% where there is a potential Tripple top (the highest price 9 years ago) as predicted a few months ago. But if it fails to breakout the FR resistance of 78.6% the price could potentially make a short-term correction until mid-October 2020 exactly 2 weeks before the American presidential election.
PO SELL LIMIT : $1781 (Currently, please watch if any bearish movement might break the EMA 200 TF H4)
DISCLAIMER ON!
PO SELL LIMIT : $1781 (Currently, please watch if any bearish movement might break the EMA 200 TF H4)
DISCLAIMER ON!
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