GOLD\XAUUSD (Y20.P4.E2.v2).Macro.Correction

Hi All,

** This is a continuation of my previous GOLD Post, link supplied below **
So many of the commentary is already there as to what I was and am looking at.
This post is basically a followup as to what I'm leaning towards more so now.
I'm thinking based on the current climate, a deeper correction, into the $1700s

The rest of the chart explains my thoughts, with the following:
a) bounce at the 0.318 fib level for point A
b) point C being the 0.618 fib level in the low $1700 range
c) as per my previous post, completing a potential handle on the way up.
d) note the MACD on the daily, moving averages and the phoeix indicator, all showing downward pressure and where its likely to find support.

What are your thoughts?

Please give me a tick or like for this post.

Regards,
S.SAri
(ref. z/chart)

DAILY chart

WEEKLY chart

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Yorum:

A nice bullish div. on the short time period, with a bullish candle and hence bounce.

Yorum: