GOLD ANALYSIS MIRROR ALERT!
I'm going to keep this very simple for all of you, gold is a very violate pair and many analyst's get overcome by so and so signals and don't look at the FACTS.
Currently gold is bearish in the weekly after a long 2 years of bullish price action a correction is due along with the monthly timeframe bearish divergence, this week after a huge drop a pullback is due in the 4 hour time frame.
2 things could happen
1.bullish price action breaks the support turned resistance at 1480 and we could see a mirror from October 1 to around 1516
2. the resistance holds at 1480 and the bears take over to around 1400 and retests 1480
News could break the resistance or according to the RSI or if its overbought by then in the 1 hour it could produce a bearish price action to 1400
Currently gold is bearish in the weekly after a long 2 years of bullish price action a correction is due along with the monthly timeframe bearish divergence, this week after a huge drop a pullback is due in the 4 hour time frame.
2 things could happen
1.bullish price action breaks the support turned resistance at 1480 and we could see a mirror from October 1 to around 1516
2. the resistance holds at 1480 and the bears take over to around 1400 and retests 1480
News could break the resistance or according to the RSI or if its overbought by then in the 1 hour it could produce a bearish price action to 1400
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