GOLD HEADING TOWARDS $ 2500

GOLD HAS RETRACED TO THE 38.2% FIB LEVEL EXTENDING FROM THE MARCH LOW AND 61.8% FROM THE LOW OF JUNE AT 1679. NOW HAVING SPIKED TO THE 2075 HIGH BACK IN AUGUST, IT STEPPED INTO THE CORRECTIONAL PHASE. SEEING THE CURRENT CONDITION OF DXY AND WITH THE EXPECTATION OF FURTHER DOLLAR DESTRUCTION UN THE PRESIDENCY OF JOE BIDEN, XAU USD HAS PRINTED AN INVERSE HEAD AND SHOULDER BOTTOM (AKA: KILROY BOTTOM) WITH THE LOWS OF $ 1848, HENCE FURTHER CONFIRMING THE BOTTOM WITH A BREAKOUT FROM THE NECKLINE OF TGE PATTERN. XAU/USD CLOSED WEEKLY AT $1951.19 ON FRIDAY 6TH OF NOVEMBER. HAVING A MEASURED FIBONACCI TARGET AT $ 2500 UNDER THE LABEL OF GOLD SECULAR BULL MARKET BY E.B TUCKER.

-MUHAMMAD HANAF ANGELINA MIR
(21:37 SATURDAY 7TH OF NOVEMBER 2020) XAUUSD