Gold Daily Video, 13 June, 2017

[Sive Morten]

Good morning,

As overall situation mostly stands the same, we keep our view on possible bounce to 1275 first and downward continuation to 1250 second:




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Sayed Haider]

Mr. Sive Morten..Thanks again for your Gold daily video, 13 Jun. However there are two questions, I will appreciate if you could explain further. 1. Why the Gold has to take retrace to 1275 level and then will fall back to 1250 area
No.2 If the gold will retrace to 1275 then don't you think gold will completely change the direction and will go further up?

 

[Brett Reynolds]

Mr. Sive Morten..Thanks again for your Gold daily video, 13 Jun. However there are two questions, I will appreciate if you could explain further. 1. Why the Gold has to take retrace to 1275 level and then will fall back to 1250 area
No.2 If the gold will retrace to 1275 then don't you think gold will completely change the direction and will go further up?

Hi Sayed. You need to look at AB/CD patterns then you will understand what Sive is talking about. Also check out Fibo levels and you will see good points to look for entry levels. I am waiting for possible entry point to 'Buy Gold' later this week...or maybe next week depending on what the 'Prive Action' shows!?

 

[Sive Morten]

Mr. Sive Morten..Thanks again for your Gold daily video, 13 Jun. However there are two questions, I will appreciate if you could explain further. 1. Why the Gold has to take retrace to 1275 level and then will fall back to 1250 area
No.2 If the gold will retrace to 1275 then don't you think gold will completely change the direction and will go further up?

Well, mostly we've talked about it in weekly research, there is detailed explanation. In 2 words - right now gold at support, after Fed decision market will take some relief and some shorts probably should be closed, this could push gold up a bit, but after that long-term context could start to work as on weekly chart we mostly have bearish bias that suggests some deeper action on daily. That's why we think that drop could continue to ~1250 area

 

[Sayed Haider]

Thanks Mr. Sive Morten and Mr Brett Renolds. Appreciated, your point of view is valid and Clear.
Have a nice day.