Gold outlook 8-12-2019
Waiting to see how gold PA looks when price reaches the bottom side trend line.
Reversal PA into the trend line will indicate a high probability (80-85% chance) of a move higher where as if i see continuation PA forming once price reaches the tread line then price will have a high probability (80% chance) of a move lower.
If price rejects the lower trend line with reversal PA then $1483-$1490 is the first area that is likely to visited.
If price breaks the top side descending trend line then there will be a 90% probability of hitting $1535.
DYOR
Reversal PA into the trend line will indicate a high probability (80-85% chance) of a move higher where as if i see continuation PA forming once price reaches the tread line then price will have a high probability (80% chance) of a move lower.
If price rejects the lower trend line with reversal PA then $1483-$1490 is the first area that is likely to visited.
If price breaks the top side descending trend line then there will be a 90% probability of hitting $1535.
DYOR
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