A lot coming for gold

Here my analysis of gold on the long term and short term. Feel free to leave your opinions or like it if this helped you any ways.


On the long term I expect gold to go back to 1800.
Price has been swimming in the overbought zone of the RSI since March. Supply has been decreasing but is still heavily present which tells that its still into a decreasing process. In the long-term I expect price to go back all the way to 1800.
BUT BEFORE IT DOES THAT
On the weekly we can see the RSI not being overbought & price being into a zone that showed absorption of supply in the past. Plus price is currently showing sign of absorption of supply. So before dropping I expect it to retrace the SOW to the red zone and then maybe the move downward will pursue. I am still ready for price to even retrace all the way back to 1930 before dropping ( especially that its showing an interesting bull momentum on the lower TF.

whats happening now. ; Price has started retracing the SOW. I am looking to catch an entry around on the 1975 zone or lower for a even better one. ( showing absorption of supply on the 1975 for 3 times now)