Gold .... Needs more work and stability

24 Kas 2021

There is the potential of a Harmonic shark Pattern forming on the 5 hour Gold chart

It is a variation of the traditional M and W patterns. The Shark pattern is made up of two separate price segments: on the one hand, an impulse wave that fails, and on the other, an impulse wave that reaches extreme levels.

There are traditionally two reversal D points ... an .886 XA retrace or a 1.13 XA extension. Both are marked as are some targets.

I have around $1770 as the former and $1743 as the latter.

I need to see this pattern evolve in other time frames and my oscillator roll up to commit funds at this point as well as a take out of the $1796 area; so I am NEUTRAL at present.

Holiday markets also in effect so there can be some volatility until Tuesday.

Not investment advice. Do your own due diligence.

S.

26 Kas 2021

Not

Up to target 1 then collapse. Tough market. People selling winners to pay for losers.

2 Ara 2021

Not

Returns to # 1reversal area.... beginning to be oversold