SUMMARY - In #003 posted yesterday, I said that gold has to hold the red box. It has just hit the red box level this morning so I wanted to point this out. So now this path (still the same path as#003 with 2 more conditions). First is that there are two orange boxes now instead of one. Second is that THEY BOTH HAVE TO HIT in order to avoid 14xx-15xx outcome. Furthermore, these 5 boxes are the only possible "bullish" outcome, meaning if gold bull thesis is true, THIS IS ONLY POSSIBLE ROUTE to avoid collapse.
SO? - Despite the drop to 1745 this morning, the odds favoring December bull outcome is still a favorite. To change this outcome gold would have to crash w/in 5 weeks. With 1610 being the first target and 15xx by 10/20. In this collapse scenario, 12-15 month consolidation is minimum requirement to reconsider bullish thesis.
SO? - Despite the drop to 1745 this morning, the odds favoring December bull outcome is still a favorite. To change this outcome gold would have to crash w/in 5 weeks. With 1610 being the first target and 15xx by 10/20. In this collapse scenario, 12-15 month consolidation is minimum requirement to reconsider bullish thesis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.