Secret code for gold pattern! Short-term target: 1975-1980.
As I mentioned yesterday, retracement back to original position will be happened after 5 moves in short-term pattern.
Bearish move from 2000 finished 5 moves down to 1931, and will retrace back to 1975-1980 in short-term.
New pattern starting from around 1979 will be evaluated. No bullish chasing when gold reaches resistance area 1975-1980 today!
* Supporting: 1955-1960.
* Resistance: 1975-1980.
* Bull & bear boundary: 1985.
Bearish move from 2000 finished 5 moves down to 1931, and will retrace back to 1975-1980 in short-term.
New pattern starting from around 1979 will be evaluated. No bullish chasing when gold reaches resistance area 1975-1980 today!
* Supporting: 1955-1960.
* Resistance: 1975-1980.
* Bull & bear boundary: 1985.
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