Gold near-term roadmap: sub $2400 incoming for a bullish dip?
Updated
Part of my ongoing analysis, see links below.
We are retracing as expected,
Bulls look to be tired for now.
Early plot suggest three targets.
$ 2315/16 "Speed Bump" needs to slow the drop.
$ 2401.37 - 2403.55 is the "Minimum Expected".
$ 2391.36 - 2391-91 is the "Best Guess" target.
$ 2382.46 - 2383.83 is the "Worst Case" target.
.
Big Picture plot looking for $2700
.
Pullback plot looking for $2307 bounce:
.
Bounce topping alert at $2450
================================================================================================
We are retracing as expected,
Bulls look to be tired for now.
Early plot suggest three targets.
$ 2315/16 "Speed Bump" needs to slow the drop.
$ 2401.37 - 2403.55 is the "Minimum Expected".
$ 2391.36 - 2391-91 is the "Best Guess" target.
$ 2382.46 - 2383.83 is the "Worst Case" target.
.
Big Picture plot looking for $2700
.
Pullback plot looking for $2307 bounce:
.
Bounce topping alert at $2450
================================================================================================
Note
BOOMCollapsed into our "Worst Case" and going lower apparently.
Will evaluate this drop and post updated analysis.
================================================================================================
.
Related publications
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.