FinancialMarkets Gold to Fall Further - Target = $1770
Gold hit a key resistance at 1900-1910. a reversal was
imminent.
The fall is not over yet.
You can see a rising wedge , which will reverse downwards.
Expect gold to reach close to 1850 before more direction.
We should see 1865 within this week, this coincicdes with
Bond yields which are likely to rise.
Jun 9
Comment: this is the start of a longer term reversal.
pricing rising from 1680 to 1900 is just mad.
Gold will get hammered and killed when U.S start raising
rates and stop the money pumping, causing bond yields to rise, and money will
move out of gold.
Longer term im expecting gold back down to 1560.
Jun 9
Comment: When this main reversal will come is hard to tell
yet. I imagine around 1850 we will see gold likely to head back up, heading
towards 1950.
if this happens we need to reassess at 1950 - will it break
above or reverse.
Next checkpoint after that will be 2000.
but overall, long term, i am bearish on gold even through it
will be a rough ride down.
Jun 14
Comment: Lovely, gold at 1850 today as expected. we could
see 1840 before some kind of upward correction.
Jun 17
Comment: what a lovely fall on gold yesterday. did you make
any profit on this? almost touched 1800 after the fed meeting.
im expecting a pull back up to around 1880 in the coming
days before i can judge when teh fall will continue.
Jun 17
Comment: Kaboom!
Gold at my 61% retracement level.
it got tehre much faster than i expected, due to fed shaking
teh markets on 16-07-21.
Expect a pull back now, Gold is too far stretched from its
hourly 200 day EMA.
Gold
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