AGT 2018 LOW HAS BEEN SET AS THE BOTTOM FOR 2018 (CLOSING PART)
As shown in the main chart above, the current price movement is approaching the weekly 24.12.2018, defining that $1160 August 2018 Low has potentially as the 2018 Bottom.
Could prices move higher in 2019 ?
Based on this Chart approach, I have the view that prices may be able to move higher in 2019, if until the end of 2018, prices do not close below $1160 August 2018 Low or $1122 December 2016 Low. The table contained in the chart explains that Corrective Wave # B starts in 2012 and ends in 2016 which can be translated that the Long-term Bear Market Starts in 2012 (2012 High is not Higher than 2011 High) and ends in 2016 (2016 Low is not Lower than 2015 Low). By using 8 Years Cycle Low To Low approach as happened in the previous year (2000 Low + 8 Years = 2008 Low), ideally 2016 Low (2008 Low + 8 Years = 2016 Low) must be able to survive for 2018 & 2019 with the meaning of the word that 2019 must be able to build a series of Higher Low.
If the 2016 price movement is taken as a range ($1375 July 2016 High and $1122 December 2016 Low) then ideally for further increases, at least the price should be able to consistently move above $1248.
In another perspective through this Chart approach, reinforce that $1160 August 2018 Low is very potential as the bottom of 2018, where this low coincides with the end of the Time Zone 34. In addition, prices have moved in balance, starting at $1180 June 2013 low to $1160 August 2018 Low by forming a Multi Years Inverted Head & Shoulder pattern.
Based on the above approaches, then Q1-2019 or Q2-2019 at least the price can move above $1248 and not move below $1160, but need to watch out if the price closes below $1195 November 2018 Low, most likely $1160 August 2018 Low or $1122 December 2016 Low will be retested.
What will happen to prices at the upcoming FOMC ? let's take a look.
--ooOoo-- From The Desk Of NewBie --ooOoo--
Could prices move higher in 2019 ?
Based on this Chart approach, I have the view that prices may be able to move higher in 2019, if until the end of 2018, prices do not close below $1160 August 2018 Low or $1122 December 2016 Low. The table contained in the chart explains that Corrective Wave # B starts in 2012 and ends in 2016 which can be translated that the Long-term Bear Market Starts in 2012 (2012 High is not Higher than 2011 High) and ends in 2016 (2016 Low is not Lower than 2015 Low). By using 8 Years Cycle Low To Low approach as happened in the previous year (2000 Low + 8 Years = 2008 Low), ideally 2016 Low (2008 Low + 8 Years = 2016 Low) must be able to survive for 2018 & 2019 with the meaning of the word that 2019 must be able to build a series of Higher Low.
If the 2016 price movement is taken as a range ($1375 July 2016 High and $1122 December 2016 Low) then ideally for further increases, at least the price should be able to consistently move above $1248.
In another perspective through this Chart approach, reinforce that $1160 August 2018 Low is very potential as the bottom of 2018, where this low coincides with the end of the Time Zone 34. In addition, prices have moved in balance, starting at $1180 June 2013 low to $1160 August 2018 Low by forming a Multi Years Inverted Head & Shoulder pattern.
Based on the above approaches, then Q1-2019 or Q2-2019 at least the price can move above $1248 and not move below $1160, but need to watch out if the price closes below $1195 November 2018 Low, most likely $1160 August 2018 Low or $1122 December 2016 Low will be retested.
What will happen to prices at the upcoming FOMC ? let's take a look.
--ooOoo-- From The Desk Of NewBie --ooOoo--
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