XAU/EUR - long-term analysisGold is in a strong uptrend since the bullish Gartley, WaveTrend oscillator, MFI, RSI and stochastics oscillator indicated a perfect long-entry at around €1000.- on Oct 2018.
Price actions shows that Gold is currently in an impulse wave 5 which will end soon and turn into a ABC correction which should find support in the between €1111 and 1070.- in 2020 (Fib 0-618 - 0.786).
Price should find long-term support on bullish order blocks which were formed over the past few years between €1100 - 1070 which is a perfect accumulation zone for long-term Gold investors.
A short-term long opportunity for swing and day traders could be between 30 MA and Fib 0.5 between €1180 - 1143.
Volume profile also indicates HVN @ €1170 - 1155.
Short and intermediate term I´m bearish on Gold, however long-term I´m bullish due to the golden cross 50/100 MA!
