Gold - ST & LT paths
Update: Rejection of rising red trendline. Short opportunity to 1157.
ST Gold looks bullish.
Retest of Pink line may see a pullback to lower all time lows (See falling blue trend line)
Retest of Yellow line however, may see an attempt to break the yellow trend line. Chart will be updated if this occurs.
Trade safe and smart.
IMO: With countries worldwide exporting deflation through loose monetary policies, I don't really see Gold breaking past the yellow line in the next year or two.
Continuation of downtrend is more probable in my books.
ST Gold looks bullish.
Retest of Pink line may see a pullback to lower all time lows (See falling blue trend line)
Retest of Yellow line however, may see an attempt to break the yellow trend line. Chart will be updated if this occurs.
Trade safe and smart.
IMO: With countries worldwide exporting deflation through loose monetary policies, I don't really see Gold breaking past the yellow line in the next year or two.
Continuation of downtrend is more probable in my books.
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