we are now approaching the descending trend line which gold is struggling with for about 18 month.
every time it was rejected almost harshly and its no surprise if it rejects again, but i think this time might be different. it might break the level and rise to around 1900$ but then will start a big descend in few months which is discussed in gold in 2022 and will be updated later if its valid.
anyhow, there's two path determined in the chart which i put more faith in the 1st one.
keep in mind about two crucial areas to decide validity , the ~1850 area and ~1830. set stop losses accordingly where and which direction you take position.
Kommentera:
due to early reaction around 1840, i think bears are getting wore, and soon bulls are getting the control for plan 1
