Monthly: scenario remain the same: after a possible touch of the upper Bollinger band (2169.5) we are waiting for a downward reversal
Weekly: a little more localized resistance level - 2162.1 (the upper Bollinger band)
The daily chart: even more localized upper Bollinger band (2120.2). Support 2077.2 (the middle band).
The main scenario - touch of 2120.2 and drop to 2077.2
The alternative scenario - break above 2120.2 and growth to 2162.1
solutions: when we have a short signal on one of the resistance levels specified in the review, we shall sell 2077.2 to
Monthly: an almost destroyed August bullish pinbar, which caused a lot of controversy and talks about the upward reversal. We expect continuation of not only decline, but also acceleration of process. The medium-term goal - 28.10
Weekly: localized support 41.42 (the bottom Bollinger Band). ADX parameters are very active, so the downward breakthrough is clearly a priority.
The daily chart: Friday's bearish pin broke up the inside bar and that was a false breakthrough. This is a very strong sign of a further decline.
Expectations: drop from current levels by 43.33 and 41.42. There is a threat of an even more serious decline, so I recommend medium-term traders to keep their sales towards 28.10
solutions: sales to 43.33, 41.42, 40.00
Monthly: the bottom Bollinger band is under a notable load of ADX, so we're very close to beginning of the new phase of falling of gold prices. If these expectations turn to be true, we can see the price on the cherished level 1000.00 dollars per ounce by the new year.
Weekly: here ADX is increasing pressure, but trend has not achieved the trend level yet. Typically, this means that after break of the bottom Bollinger band, there will be a roll back into the zone of confluence of the two middle Bollinger bands (1113.29-1128.36), where there is a potential area of massive supply of gold, which will collapse the quotes. Of course, based on the weekly chart, we are talking about a few bars of this scenario, and therefore - and a few weeks.
The daily chart: this week ssupport lines 1071.26 and 1045.52 can be attacked.
Expectations: drop to 1071.26 and 1045.52.
solutions: sales to 1071.26 and 1045.52
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us