XAUUSD Bounce

Bounce Target 1870-1742.22
Stop Loss 1717


Gold has a major gap at 1870 and a major liquidation point at 1742 support area. Before testing a high of 2100-2300 by the end of this year going into next spring we will need significant rate increases from the fed in September and October. Unemployment should increase due to winter but until then sell and catch any rallies.

All rally points below are:

1910, 1925, 1930, 1935, 1940, 1988, 2000 & a gap at 2069 could crush a target of 2100 first. If that happens we would see a higher low that would break our fall to 1680-1572. Keep in mind sell pressure on the weekly and monthly is simply just reaching force. If this falls, it can drop to 1572-1306 and skyrocket back to 2300 on few months to years time. This would collapse stocks if the fed decides a to pull the rug. Hence Amazon at the lowest price since opening in the late 1990s. Trade safe!

-Russian2Cash