#Gold
my long term analysis of gold is available in this channel if you search for the hashtag gold. but here, I wanted to show how I see the movements in gold.
still within a flag pattern with three legs down and on its 6th wave about to touch the topline of the channel.
The longterm direction is up, and the current target for the bulls in the final leg is 1496.96. after that, they will exit their orders and create a pullback to the topline of the channel and then we have to monitor the chart closely to see if the price action suggest a direct move up to 1600 price range or we are going to witness a fallback to 1420 price range before price build the potential for going higher.
my long term analysis of gold is available in this channel if you search for the hashtag gold. but here, I wanted to show how I see the movements in gold.
still within a flag pattern with three legs down and on its 6th wave about to touch the topline of the channel.
The longterm direction is up, and the current target for the bulls in the final leg is 1496.96. after that, they will exit their orders and create a pullback to the topline of the channel and then we have to monitor the chart closely to see if the price action suggest a direct move up to 1600 price range or we are going to witness a fallback to 1420 price range before price build the potential for going higher.
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