Hi,
Gold is still in bearish trend if you take a big picture in monthly view.
The top done in july at $1375 is maybe an intermediate top before a new low which could be hit in 2018 at $980
Indeed, as you can see, the trendline from september 2011 should be hard to break imho.
Next, gold doesn't yet make its pullback on a structure made during the 2008/2009 years (between $990 and $970)
The SMA 200 could join this price of interest of the end of 2017 / Early 2018.
Regarding my approach with harmonic pattern, an AB=CD Bullish could be completed on these levels.
Just a note, a thought. Not a trade for the moment.
Gold is still in bearish trend if you take a big picture in monthly view.
The top done in july at $1375 is maybe an intermediate top before a new low which could be hit in 2018 at $980
Indeed, as you can see, the trendline from september 2011 should be hard to break imho.
Next, gold doesn't yet make its pullback on a structure made during the 2008/2009 years (between $990 and $970)
The SMA 200 could join this price of interest of the end of 2017 / Early 2018.
Regarding my approach with harmonic pattern, an AB=CD Bullish could be completed on these levels.
Just a note, a thought. Not a trade for the moment.