the price may drop for retracement as its break many level below, this is my view for now!
looks BULL Flag almost complete IF the price don't break 1688 area, opportunity for LONG position!!
OIL could be more downwards due to C19 .stay tight with small risk.
Gold will be this way if its dose not break the previous high level.., will be updating soon for more!!.
trying from another view or from another angle ,same result as well, the span going flat, volume from seller reduce because they close their position, buyer will take over the market,..thisa is not signal ,just forecasting trade ideas, pls do comment
Gold this week, it should be market retest, theres so many level already broken previous weeks this week I expecting some retest .
as I mention in my previous forecast, gold would be bearish, this is because the previous weekly candle close below the trend line, and this week shows the bear is already in control, of course this situation is followup by covid19 virus which cause panic in the market ,this matters lead market crash even for gold, from what I see gold would not recover its...
IF the channel won't break we'll see a big drop, this is my view on monthly chart
gold probably won't break the high straight away, because its at the 5th wave move.watch the volume, if its break 1671.58 gold probably make its 1st low before changing the trend to bear.
As the market close at double top, with low balance volume , that's mean it create divergence on weekly MACD ,MA O and Volume, let's say the bullish trend is weakened , Gold oversold condition followup by its peak 5th wave pattern on 1 hour TF , gold has a Huge potential making downwards move, these is not a confirmation of bearish trend yet!! , but we'll have to...
After a while, gold bull trend is ended cue by the weekly bear candle, and follow up by market retest , these upcoming weeks I'll be expecting bull manipulation !! fake news rumors etc. and stop hunt session ( spiking without reason & large spread from broker ) will begin , when these hunt begins, there's a chance for us to position our sell at 1651 / 1656 ,just...
SAME forecast different view>> lets see these upcoming weeks,im holding long for now.
this is my watch level ,!! I would be expecting the market retest then continue short.