I’m expecting gold to push down one more time before we will see the bulls taking control. It all comes from the Daily chart where it seems that the commodities is about to complete a bearish double cycle (ignoring the spike).
To zone marked in the screenshot below is where we want to see the price first of all.
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Gold D1 Chart
Gold H4 Chart
I expect to see something like that (as marked in the image below). The last push down should form divergence on the H4 chart as well. The most conservative way to join would be to wait for the breakout of the most recent trend line, small correction and then go long.
Target 1 – 1228.00.
Target 2 – 1250.00.
Stop Loss – below last low created.
Yours,
Vladimir
Trust me, you does an excellent job.
Hi Vlad, thank you so much for the screenshots, really helps a lot.
Thanks for the quick update Vlad