Gold update on 12H / two weeks forecast & possible price action
Dear traders and followers,
the Gold price moves within a triangle pattern which has been build after a strong up rally.
We have analysed two possible price movements.
1. The price opens near Friday close price and starts a small down movement until Tuesday midday without breaking and closing under the 1920 $ area --> this is a buy signal with target at 1965 $ by the end of the week.
2. The price starts with a downward gap and moves pretty fast under 1900 $ --> this is an sell signal --> end of correction move is at 1815 $ (new idea will be published in this case)
Indicators on higher time frame (RSI & MACD on weekly and monthly chart) looking pretty bearish and showing incoming price correction. This could confirm the possible price move number 2.
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the Gold price moves within a triangle pattern which has been build after a strong up rally.
We have analysed two possible price movements.
1. The price opens near Friday close price and starts a small down movement until Tuesday midday without breaking and closing under the 1920 $ area --> this is a buy signal with target at 1965 $ by the end of the week.
2. The price starts with a downward gap and moves pretty fast under 1900 $ --> this is an sell signal --> end of correction move is at 1815 $ (new idea will be published in this case)
Indicators on higher time frame (RSI & MACD on weekly and monthly chart) looking pretty bearish and showing incoming price correction. This could confirm the possible price move number 2.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date.
Thanks for your support !
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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