Monthly Candles, The Fibonacci is drawn between 2011 high and 2015 low.
At present Gold is presently attempting to break the resistance at $1376 which also coincides with 0.618 on my Fibonacci. This has vestiges all the way back into 2010. This is a strong resistance point on the chart.
If/when Gold closes over $1376 then there is little resistance until $1478 which appears to be a profit taking opportunity, with a retrace back into the area of $1400 followed by a strong leg up to the $1700 area.
Ultimately, the chart seems to indicate Gold in the area of $1700 to $1750 in early 2021.
At present Gold is presently attempting to break the resistance at $1376 which also coincides with 0.618 on my Fibonacci. This has vestiges all the way back into 2010. This is a strong resistance point on the chart.
If/when Gold closes over $1376 then there is little resistance until $1478 which appears to be a profit taking opportunity, with a retrace back into the area of $1400 followed by a strong leg up to the $1700 area.
Ultimately, the chart seems to indicate Gold in the area of $1700 to $1750 in early 2021.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.