Gold: Updates/ Predications
Updated
Update: With the Fed hiking rates another 25 bps, I predicated that Gold would dropping from 1960 to about 1950-1940. Weekly low was 1942, then closed the week back around 1960 level.
Prediction:1950 support @ Psych level, Also nice bounce off Fid retracment level. I see Gold moving about 2000. If Pice decides to keep dropping I don't see Gold closing under 1930-1925.
Long Targets:
1970
1990
2010
2030
Prediction:1950 support @ Psych level, Also nice bounce off Fid retracment level. I see Gold moving about 2000. If Pice decides to keep dropping I don't see Gold closing under 1930-1925.
Long Targets:
1970
1990
2010
2030
Note
Long Target Hit 1970Note
If price breaks and closes below 1940 looking for price to test 1930-1925 levels.Note
Price did break 1940 and price also tested the 1925 level witch is a strong fib retracment level on higher time frame
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.