Gold didn't move as expected for the past week in overall sense. Whenever I am not sure about the trend, I will look at Silver for reference.
In monthly TF, silver is forming a head and shoulder pattern. I am expecting further downside for silver to test 26 support. In 2D TF, a shooting star has been formed. I am expecting immediate selling pressure for the start of next week.
For gold, in monthly TF, the Elliot wave is also in its 5th and final wave, possible of forming a red candle for the month of March. In 2D TF, a week shooting star was also formed. I am expecting selling pressure also for gold in the next week. It could at least go down to 2835 or even lower.
Let's see how it plays out next week. Have a great weekend.
In monthly TF, silver is forming a head and shoulder pattern. I am expecting further downside for silver to test 26 support. In 2D TF, a shooting star has been formed. I am expecting immediate selling pressure for the start of next week.
For gold, in monthly TF, the Elliot wave is also in its 5th and final wave, possible of forming a red candle for the month of March. In 2D TF, a week shooting star was also formed. I am expecting selling pressure also for gold in the next week. It could at least go down to 2835 or even lower.
Let's see how it plays out next week. Have a great weekend.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.