Gold upside, downside or Triple top!!!
Let take a look from the last post Feb 3rd, gold did get to expected price target 1830-1780 completed at 1805-1810 and then has had this move to the upside to 1937, can it go higher probably and how high.
Short term 1hr/4hr time frame:
From 1805= 1805-1858=1, 1858-1810=2,1810-1937=3? or still subdividing higher and it could exceed 1959, alternate is it could consolidate for a 4th wave to 1900-1890 price zone then 5th wave higher to 2000-2020.
Daily & Weekly time frame:
Once the upside gets to 1959 then caution is warranted as it could stall the upside for a double top or extend to 2000-2020.
At this price point it is very interesting as gold can have a bull run above 2070 a triple top or break down.
Triple top then price could drop down to 1600’s or lower!!!
Down side expect these Support zones:
1st support zone 1800-1780, break below here then 2nd support zone 1750-1720-1680.
Below 1680 then 3rd support zone 1620-1600. there will be price consolidation on the way down.
Break out above 2070:
1st Resistance zone 2130-2195, 2nd Resistance zone 2240-2360
See charts below with optional scenarios where:
OPTION 1
2075-1677=A, 1677-2070=B, 2070-1615=C, 1615-??=D (2000-2020 OR 2070!!!) THEN E TO FOLLOW TO 1600'S OR LOWER
OPTION 2
2075-1677=A,1677-2070=B,2070-1615=C AND NOW IN UPSIDE WHERE 1615-1728=1, 1728-1618=2,1618-1959=3,1959-1805=4,1805-??=5(2000-2020 OR 2070!!) THEN a CORRECTION OF ABOUT 50%-65% ABOUT 1850-1750.
Short term 1hr/4hr time frame:
From 1805= 1805-1858=1, 1858-1810=2,1810-1937=3? or still subdividing higher and it could exceed 1959, alternate is it could consolidate for a 4th wave to 1900-1890 price zone then 5th wave higher to 2000-2020.
Daily & Weekly time frame:
Once the upside gets to 1959 then caution is warranted as it could stall the upside for a double top or extend to 2000-2020.
At this price point it is very interesting as gold can have a bull run above 2070 a triple top or break down.
Triple top then price could drop down to 1600’s or lower!!!
Down side expect these Support zones:
1st support zone 1800-1780, break below here then 2nd support zone 1750-1720-1680.
Below 1680 then 3rd support zone 1620-1600. there will be price consolidation on the way down.
Break out above 2070:
1st Resistance zone 2130-2195, 2nd Resistance zone 2240-2360
See charts below with optional scenarios where:
OPTION 1
2075-1677=A, 1677-2070=B, 2070-1615=C, 1615-??=D (2000-2020 OR 2070!!!) THEN E TO FOLLOW TO 1600'S OR LOWER
OPTION 2
2075-1677=A,1677-2070=B,2070-1615=C AND NOW IN UPSIDE WHERE 1615-1728=1, 1728-1618=2,1618-1959=3,1959-1805=4,1805-??=5(2000-2020 OR 2070!!) THEN a CORRECTION OF ABOUT 50%-65% ABOUT 1850-1750.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.