Gold Gold Daily Video, August 08, 2019

[Sive Morten]

Good morning,

As gold market stands at daily and weekly overbought, we keep an eye on potential DRPO "Sell" pattern on 4H chart:




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.

 

[Joh]

This gold trip reminds me of the Eur/Yen some ears ago, it was about 99 some years back -everybody expected a retracement along the way up (most reasonable) 'the powers that be' thought differently and it did not, until it reach the top 145 at that time..

I got out of Gold the last few days. Took a hit, Ouch! As i now see 'the wales' pushing for 1700/1750 or may be higher, with hardly any retracing in between. This is not advise please note it is just my experience/observation which could easily be wrong. Will be watching though, until i see a save entry. Thanks you Sive.