Gold Analysis Jan 9, 2019
We see market broke previous resistance level and also created a gap. There are various take away from today why I believe market will reverse now to bullish to target 1768.
1. Whenever a resistance level is broken and has become current market support and retested it signals that market is looking to return to original trend.
2. We can see that market is is currently at the same level as it was back as far 2012 where it was at the same level when it reversed from bearish to bullish.
3. In the early stages of 2013 market had a small pullback at the very same level from bearish to bull before continuing the downtrend.
4. Please see the link
to substantiate points 1-3.
5. Market is in a very strong bullish from the latter part of 2018 trying to complete the Cup Pattern.
1. Whenever a resistance level is broken and has become current market support and retested it signals that market is looking to return to original trend.
2. We can see that market is is currently at the same level as it was back as far 2012 where it was at the same level when it reversed from bearish to bullish.
3. In the early stages of 2013 market had a small pullback at the very same level from bearish to bull before continuing the downtrend.
4. Please see the link
5. Market is in a very strong bullish from the latter part of 2018 trying to complete the Cup Pattern.
כתב ויתור
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