Gold looking for 1800
Updated
Gold prices had (as expected to clip above 2000) reached 2089 and rolled over.
Previously mentioned that Gold was looking for a lower low in the 1H chart, and it happened, breaking down past 1950. This also broke down below the 55EMA.
It now has a clear lower high, and is aiming for a lower low on the 4H chart; retesting 1950 and likely to fail soon to go down below 1930. This would see a downside target of 1800.
Note the dim yellow arrows in the background which were drawn earlier in March to map out a predictive positioning of gold...
Previously mentioned that Gold was looking for a lower low in the 1H chart, and it happened, breaking down past 1950. This also broke down below the 55EMA.
It now has a clear lower high, and is aiming for a lower low on the 4H chart; retesting 1950 and likely to fail soon to go down below 1930. This would see a downside target of 1800.
Note the dim yellow arrows in the background which were drawn earlier in March to map out a predictive positioning of gold...
Note
So it retested 1950 (near 1960) and failed... now 1928.
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