GOLD MONTHLY ANALYSIS
since December 1 2002, gold has been going in an uptrend.
September 1 2011 stared a 4 year downtrend
price began to consolidate in December 2015 before it began to rise above old highs created back in September 2011
December 2015 into jan 2016 you can see a morning star pattern form followed by an impulse move to the upside and break of structure
the market retested that broken structure before another impulse move up breaking old highs back in. September 2011
aug 2020 this market hit an all time high violating previous highs from September before retracing
market isn't trending in my opinion at the moment
waiting for confirmations and the story for this year to begin. happy trading to all of you!
September 1 2011 stared a 4 year downtrend
price began to consolidate in December 2015 before it began to rise above old highs created back in September 2011
December 2015 into jan 2016 you can see a morning star pattern form followed by an impulse move to the upside and break of structure
the market retested that broken structure before another impulse move up breaking old highs back in. September 2011
aug 2020 this market hit an all time high violating previous highs from September before retracing
market isn't trending in my opinion at the moment
waiting for confirmations and the story for this year to begin. happy trading to all of you!
Penafian
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