THE TWO POSSIBILITIES ON GOLD
There are two solid possibilities i see on gold
1. On the H4 we could likely have an ABC correction with the third wave dragging price down to 1850.
2. We could bounce up from here straight up to make new long term highs.
A. The first narration is supported by the success of the covid vaccines which is currently in its last stage of trials, it will likely have a short term effects on the market as investors will likely have more confidence on the dollar.
B. Second narrative is backed by the global political uncertainties, US election of Trump drama and Excess QE with rising Covid cases.
It is quite inevitable and this is a more likely long term call.
1. On the H4 we could likely have an ABC correction with the third wave dragging price down to 1850.
2. We could bounce up from here straight up to make new long term highs.
A. The first narration is supported by the success of the covid vaccines which is currently in its last stage of trials, it will likely have a short term effects on the market as investors will likely have more confidence on the dollar.
B. Second narrative is backed by the global political uncertainties, US election of Trump drama and Excess QE with rising Covid cases.
It is quite inevitable and this is a more likely long term call.
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