GOLD H4 short term bullish
Short term bullish / middle term bearish / long term ???.
Short term bullish :
- price will reach the 0.618 Fib level of the prev bearish trend (from July to December 2016)
- price will reach the pitchfork median (dotted trend) and try to break the resistance
Middle term bearish:
- price will not break the resitance
- there is a bearish divergence on the RSI
Long term ??? :
- price will try to reach the main pitchfork median (dashed line). If it does not before the red circle, big probability that price will go down and try to exit to the main pitchfork by the bottom
Short term bullish :
- price will reach the 0.618 Fib level of the prev bearish trend (from July to December 2016)
- price will reach the pitchfork median (dotted trend) and try to break the resistance
Middle term bearish:
- price will not break the resitance
- there is a bearish divergence on the RSI
Long term ??? :
- price will try to reach the main pitchfork median (dashed line). If it does not before the red circle, big probability that price will go down and try to exit to the main pitchfork by the bottom
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