In my view, gold is currently targeting the 4080 level on the daily timeframe. I anticipate this move could unfold by the end of this month or the beginning of the next. However, before reaching 4080, a short-term correction is likely — potentially a pullback in the range of 50 to 80 points, but not exceeding that.
The recent sharp decline of nearly 300 points has eased the panic in the market — a significant move by any standard. Throughout this phase, both sellers and buyers have experienced liquidations: sellers on the way up and buyers waiting for a pullback that has yet to fully materialize.
Gold has been moving aggressively, offering very few opportunities and often leaving most participants behind. Until the 4080 level is reached, I believe the optimal approach is to stay on the buyers’ side and look to capitalize on trades along the way.
That said, once the 4080 level is reached, I expect a major panic drop of approximately 400 to 500 points. This is based on my personal experience and analysis — the rest is up to your own judgment and decision-making.
The recent sharp decline of nearly 300 points has eased the panic in the market — a significant move by any standard. Throughout this phase, both sellers and buyers have experienced liquidations: sellers on the way up and buyers waiting for a pullback that has yet to fully materialize.
Gold has been moving aggressively, offering very few opportunities and often leaving most participants behind. Until the 4080 level is reached, I believe the optimal approach is to stay on the buyers’ side and look to capitalize on trades along the way.
That said, once the 4080 level is reached, I expect a major panic drop of approximately 400 to 500 points. This is based on my personal experience and analysis — the rest is up to your own judgment and decision-making.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.