We are coming to end of descending triangle. If current bullish moves are confirmed, and we break ~1970 zone, expect for bull moves upwards to continue. Any, and I mean any bad news, whether it be US election recounts/hung election, lockdowns, worsening riots, anything, and I see gold maintaining consolidation.
What I expect is more bearishness in economy coming up to election, inevitable margin calls, and gold dropping, before Fed action pushing gold to new ATH.
For now, play is to see if gold can push up to ~1970 this week without breaking. If so, bullishness confirmed.
What I expect is more bearishness in economy coming up to election, inevitable margin calls, and gold dropping, before Fed action pushing gold to new ATH.
For now, play is to see if gold can push up to ~1970 this week without breaking. If so, bullishness confirmed.
Note
treat le lines as if they are le bollinger bands.... use ur imagination B)Note
Next strong support is ~1810 then ye olde ~1700-1750 zone. nosedive will be quick. i see no legitimate support between 1810-1907
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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.