Let's take a deep look into this GOLD futures starting from 1975...
The thick large channel dictates the uptrend. So far, the lower channel was touched twice but the upper channel is not touched yet.
From cycle point of view, gold might hit 550 by year 2025(around there)
Volume was expanding confirming the inner uptrend since 2001 and decreasing upon hitting the top of 1890 and still decreasing..
Accum/Distribution line reinforce continuous selling pressure.
So i foresee more downside to come even if interest rate is raised and stock market crash
The only exception:
MACD is currently showing a golden cross in the lower region suggesting weak short term bullishness, if the classical MACD Bearish Divergence is to take place like my projection, Gold will have to hit 2800 first before freefalling
One more puzzle i need.
Commitment of Trader index from Tradingview if possible :-)
The thick large channel dictates the uptrend. So far, the lower channel was touched twice but the upper channel is not touched yet.
From cycle point of view, gold might hit 550 by year 2025(around there)
Volume was expanding confirming the inner uptrend since 2001 and decreasing upon hitting the top of 1890 and still decreasing..
Accum/Distribution line reinforce continuous selling pressure.
So i foresee more downside to come even if interest rate is raised and stock market crash
The only exception:
MACD is currently showing a golden cross in the lower region suggesting weak short term bullishness, if the classical MACD Bearish Divergence is to take place like my projection, Gold will have to hit 2800 first before freefalling
One more puzzle i need.
Commitment of Trader index from Tradingview if possible :-)
