Expecting the bears to lose steam by now.... Signs are there but there just might be one more more move to the downside perhaps if somehow the price takes out the short term T.L support from 15th December , if that happens expect to see a double bottom maybe on the H4 time frame or a new low but the price will likely bounce off fast once it touches the support area.Around 1120-1108 , I expect a sharp reversal.Alternative scenario price slowly continues to move higher and retest the T.L resistance from November 14th and in time breaks past it to make a corrective leg higher on the daily time frame into the 1180's & 1200's maybe even higher say 1240-ish tops :D ?
Commentaire:
Gold has broken past the T.L resistance from 14th November and seems to be holding above it nicely..... Time to look for long opportunities.Will be updating my view on Gold soon. ^_^
