The current resistance to break to validate any further advance is the 1768 level.
Price is currently hovering around the 874 range squaring high at 1747.
The daily candle had a pin-bar forming on the 0.5 cycle time on 18th May
20th May is exactly 72 days from the high on 9th March
From the high on 20th February, Indexes complete 89 days on 20th May
20th May is a heavy symmetric time on the long term cycle
We would expect a reaction from Indexes from their current levels, if the reaction reverses price,
gold might see a boost the can take out the current daily pin-bar.
If the reaction starts a second wave sell-off, then gold might also see a mid-term correction
towards the 1690 level.
Gold next major resistance up is the 1847 price level and then 1948.
Levels down have strong supports at 1672, 1566 and then 1532 level.
Gold cannot go below 1446 price level until the current vector is completed at 1948 or extended
towards the 2033 price level
1446 is the origin for the current geometric shape and cannot be broken until at least one leg
of the structure is completed.
Price is currently hovering around the 874 range squaring high at 1747.
The daily candle had a pin-bar forming on the 0.5 cycle time on 18th May
20th May is exactly 72 days from the high on 9th March
From the high on 20th February, Indexes complete 89 days on 20th May
20th May is a heavy symmetric time on the long term cycle
We would expect a reaction from Indexes from their current levels, if the reaction reverses price,
gold might see a boost the can take out the current daily pin-bar.
If the reaction starts a second wave sell-off, then gold might also see a mid-term correction
towards the 1690 level.
Gold next major resistance up is the 1847 price level and then 1948.
Levels down have strong supports at 1672, 1566 and then 1532 level.
Gold cannot go below 1446 price level until the current vector is completed at 1948 or extended
towards the 2033 price level
1446 is the origin for the current geometric shape and cannot be broken until at least one leg
of the structure is completed.