XAUUSD (Gold) Major Picture

9 Des 2021

Gold has a macro falling wedge structure which is further supported by continuous mini-ascending channels then have slight reversals due to the micro descending channel structures, thus we can expect that once this current long is finished and is triggered by 1813-1814 price, we can expect a major correction bound to the 1680 levels before another major reversal which should reach 1900+ levels by then.

Currently though, we can enjoy a quick short from the current level down to 1768 then a long to 1813-1814 levels then a big short from there.