GOLD berada pada rally down, kemudian muncul pattern round bottom yang kemudian di breakout. terjadi lah pullback. di TF yang lebih kecil terbentuklah sebuah minor uptrend yang kemudian terjadi koreksi membentuk sebuah pattern elliot wave ABC. diperkirakan akan membentuk chart pattern flag dan kembali keatas.
Target selanjutnya adalah trendline atas dari channel...
Gold is absolutely in a bull cycle finally. It has consistently been over 1 standard Dev above the SMA since around Dec 1st.
RSI says overbought - but not very concerning when one sees it's pattern within the Bollinger Bands
Oscillators for the most part look very bullish
MA - obviously bullish
Volume is clearly a bullish story
Global growth concerns...
GOLD is going to be stale for a while if the overall stock marke can recover, but if not, I see gold taking a little corection into the green zone then back up to test $1360 if it breaks below and closes below on the daily I say we go further down and have to wait. If it does bounce here you may want to buy some physical gold here, and a good gold stock such as...
Set Buy limit in Green zone
1228.6 , 1230
if it can pass 1235 and break up and another zone 1240 (This zone so strong )
Traget 1250-1290 ( Red zone in chart )
