GOLD BULL

Last time i looked at gold (not on here) it was sat at the support area of 1550 area. suggested it could move from there and price has since moved up a couple of hundred pips.
You can see it has bounced from the 0.38 fib a few times, which shows that area is strong on the daily TF.
Whats next? Well i dont know for certain but could we go up to form a triple top? who knows but look out for the top around the 1587 area.
We could then either get a retrace to the 0.38 fib again or even deeper to the 50% rest stop or to meet the .618 and trend for multiple confluences before a gigantic push up. Remember buy low sell high. Look for the spots dont trade in the middle and get caught out

Looking like a triple top as you've pointed out .A drop to the .38 Fib would be a nice move downwards. Either way il try not to get caught ranging !

With the impact of coronavirus I think a triple top is likely. Once they get it undercontrol it will probably coincide with a dump to one of the key levels. I honestly wouldn't be surprised to see the 0.5 or even 0.618 level reached before a massive rally

Think the corona virus has has an impact but i will be looking at the sell for monday to sell the triple top. the back in for the buy for the next bull run!

I`m seeing like 38.2 test before some good gains again.

In my opinion the shorters should be very careful at the moment.

Look at the trend-line break on silver...



Whilst generally silver moves tend to lag gold it could be the other way around for a change.

Given the economy, debt, virus and raging stock markets I would be surprised if we see gold below 1500 in the near future.

A logical trade would be the triple top, however we are not in logical times.

I thinik it`s a time for even a small correction for the next pump after it.

possible revers - 261 fibo after time - 1450 ...
(up to 1600-1700)


plan B -

if price hit 1420-1400 - possible next trgets -

1300
1200$ ...

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