SteadyFund

As explained in my weekly post, I am bearish on gold in the first few days of this week, although overall trend is bullish. Three scenarios here: 1. Straightaway drop below 3638, price fall to 3612 or even 3590 2. Fall from 3655 3. Fall from 3674 Let's see what the market will present us.

Gold closed another week with a green candle. There is no sign of slowing down at this moment. Although in lower timeframe, price has been choppy for the past few days. I do expect gold continue to rise at least to 3700 next week. However, if we look at 2D TF, there has been green bars for the last 10 sessions. There bounds to be some level of correction coming at least for the first few days of next week. Therefore, I am expecting gold to drop early next week and bounce thereafter. Price could drop as low as 3588. Let's monitor price closely next week to decide trading strategy.

Gold indeed dropped to 3620 yesterday and bounced from there. Interestingly, it has formed a triangle pattern. This is a bearish sign. Therefore, I would engage selling orders today at current market price. my 1st target is 3600. And if 3600 is broken, the next target will be 3550.

Gold did not go down as predicted. Instead it closed the day with a green bar. Looking at smaller timeframe, notice three continuous red bars were formed. This is a sign of continuation. I would see price fall back to 3620 first. If 3620 is broken, we could see 3600. Otherwise, it could go back to 3650 again. For bulls to regain its power, it should break 3650.

Gold retraced from 3674 yesterday and dropped as low as 3627. I see this as a correction as my weekly target of 3700 is not met yet. Therefore, the drop should be temporal and gold is gaining power to go up again. Selling should be cautious at this point. I will sell from 3650 toward 3600 or buy from 3600 toward 3650 depending on which touches first.

Gold is in continuous bullish run right now. Yesterday it broke 3600 and closed it above 3630. It has no sign of slowing down and should continue to rise today. I will look to buy from 3600-3613. 1st target 3664 Ultimate target for today 3688

Today I will buy from 3570-3577, first target is 3616, ultimate one is 3637.

Gold has broken every resistance and reached another ATH. It is now very bullish. Any selling should be avoided. It could see weeks' of bullish runs. Therefore, I am buying every dip right now. My first weekly target is 3644, final target is 3700.

As mentioned yesterday, gold is meant for correction right now. Indeed it dropped all the way to 3512 and closed the day at 3545. I am expecting it to drop at least to 3524 today. If it's broken, we could see 3490-3500.

Gold has been rising for the last 7 days. It is due for a correction. However, I am still expecting it to rise for today. I will look to buy from 3547-3552, possibly at 3550. My first target is 3592. Final target is 3610. 3600 could be a resistance for it to bounce back a bit toward 3578.