Bulls are favored as long as prices remain above 3320 ahead of FOMC. However, since U.S. aftermarket close, bears have dropped price $50 already but they still need $65 more. It's FOMC tomorrow at 19 hours out from publishing this post and chart above is the binary outcome. Bulls' route to 3760-3850-3965 have only appeared in the last 18 hours, but have strong implications that February 2026 will see $7250 gold prices, or higher. This continues directly from previous post.
However, I am running out of time.
However, I am running out of time.
Note
7:13 PM ET, THIS IS MY LAST POST1) I will only add should I have time
2) so be aware
3) tonight, we are watching to see what Tokyo will do with this setup
4) bulls need to keep it above 3338 to be strongly favored
5) bears need 3240s again to prevent the double blow off
Note
10:53 PM ET 5/7 ... WHAT THIS WORLD IS COMING TO??1) I can't make sense of the geopolitics
2) I can't grasp all the knock on effects
3) but I can tell you we are moving for 3850-4000 in 20 days or less
4) and that would set us up for 7500-8000
5) next February
Note
5/8, 10:13 AM... here's a break down of all scenarios starting1) base case should be mid June 3965 high
2) followed by correction
3) followed by June 2026 7450 high
4) but the LOW RANGE is still 2790 floor until it's eliminated
5) the odds of this 2790 followed by 5300 high
6) are insignificant but worth pointing
Note
7) outNote
8) only bc of the delayed check to 3320 overnight9) but what ever odds bears have before FOMC
10) are much lower now
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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.