Gold update on previous prediction.
Traders, welcome to a new prediction.
Based on my previous analysis (see link in related ideas or on my channel) on the 20st of May 2021, I predicted gold to crash to 1800 and below.
However, significant indicators such as the RSI, key psychological levels(KPL's), as the 1750 support level, DBB (double Bollinger bands) and inflation rates are possibly dictating a potential reversal.
If we focus on volumes we still see that volumes remain high (see week closing)
- A potential change in the volumes traded and bounce out of the DBB, will trigger or confirm a possible reversal to KPL's such as the 1800 and 1900 before facing possible short trades opportunities.
I will keep you guys updated, as soon as the above point in bold is confirmed.
Regards,
Kevin
Based on my previous analysis (see link in related ideas or on my channel) on the 20st of May 2021, I predicted gold to crash to 1800 and below.
However, significant indicators such as the RSI, key psychological levels(KPL's), as the 1750 support level, DBB (double Bollinger bands) and inflation rates are possibly dictating a potential reversal.
If we focus on volumes we still see that volumes remain high (see week closing)
- A potential change in the volumes traded and bounce out of the DBB, will trigger or confirm a possible reversal to KPL's such as the 1800 and 1900 before facing possible short trades opportunities.
I will keep you guys updated, as soon as the above point in bold is confirmed.
Regards,
Kevin
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