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XAUUSD OAK Meltdown Trend Forecast for JAN 17 2024I think gold might be about to melt. This support and resistance just turned evident to me looking at the price on 4H. Although I'm bullish on gold, and I believe the price is set to break last ATH sometime soon, it might be stretching the slingshot a bit more for that to happen.
We will find out soon I believe.
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XAUUSD OAK Gold's New All-Time-High and Intraday ForecastGold's price rose back to it's all time high value last Friday December 1st, then broke the ceiling on December 4th, at the Asia markets and week's opening. In a flashing escalade that lasted less than one hour, rocketing 77 dollars up from 2070, the price claimed a new ATH price at 2147 US dollars per pound .
The correction followed since. We are looking now at the continuation of this berish move, and here I offer some morning doodles for today.
Gold is going to continue up in the larger trend, and not just for this years closing. It's just a matter now of finding our how deep a retracement could reach. It might be still soon for doing that accurately.
XAUUSD OAK Spider Trend Two Weeks After: A Gold's ProphecyXAUUSD Gold . The price liked some of the forecast analysis lines we published two weeks ago, nooding at and toching these slings on several ocassions. Dotted blue lines are four of the possible path directions I estimated for the price to continue its trend, published on September 29. I added one trend line here (not dotted).
The trend path lines I sketched over the daily timeframe graph as it is in my post. This is a 30 minutes time frame view. None of these lines were changed in their slope nor in their position, not even slightly altered in any way.
This can be verified in my Sept 29 XAUUSD analysis
XAUUSD OAK Spider Trend Analysis and 2023 Closing Forecast
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XAUUSD OAK Spider Trend Analysis and 2023 Closing ForecastXAUUSD Gold trend lines, support and resistance level slings over a 4H fibonacci grid analysis preceding my price forecast strokes for the last quarter. A year away from my best trading day so far (23.09.29), I think I should have been posting my analysis way earlier.
With great power comes great responsibility. Trade responsibly.
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