Gold – Fractals to repeat one more time ???
There is nothing technical in this analysis. I just tried to point out the recent cyclic moves of gold prices.
If the fractal pattern (which reflects the recent psychology of the market) will repeat itself, last cycle starting from 1205 is to close somewhere quite below the price level of today.
1310 high of Tuesday seems like the critical point signaling downward price action_.
Before taking long positions, possible sustained recovery of USD and risk appetite of the markets shall be followed closely.
If the fractal pattern (which reflects the recent psychology of the market) will repeat itself, last cycle starting from 1205 is to close somewhere quite below the price level of today.
1310 high of Tuesday seems like the critical point signaling downward price action_.
Before taking long positions, possible sustained recovery of USD and risk appetite of the markets shall be followed closely.
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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.