Massive sell off in the beginning of March. A historical time where investors buy gold at yearly low prices.
Were in the first quarter of 2020 and its coming to a close. The previous 2019 YE low was priced in around 1550. Were going to visit that supply zone and retest the area. This will form a Head of a well known and easily read Head and Shoulder pattern that marks reversal. Several confirmations are in play for a reversal in price once this happens. We should be ending Q1 back at 1700 based on trend line analysis and the current situation.
This is just my analysis and is not advice to buy or sell. Please note this is opinion and I am not a professional or licensed trader.
Were in the first quarter of 2020 and its coming to a close. The previous 2019 YE low was priced in around 1550. Were going to visit that supply zone and retest the area. This will form a Head of a well known and easily read Head and Shoulder pattern that marks reversal. Several confirmations are in play for a reversal in price once this happens. We should be ending Q1 back at 1700 based on trend line analysis and the current situation.
This is just my analysis and is not advice to buy or sell. Please note this is opinion and I am not a professional or licensed trader.