Gold daily video, May 10, 2018

[Sive Morten]

Good morning,

Gold still keeps valid both scenarios. Bears should keep an eye on 1320 K-resistance and Agreement area, while bulls should wait for W&R and butterfly "Buy" pattern:



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.

 

[Rgali1]

Sive we bounced off the fib as you stated but I’m not too sure that we will go much further down and break the lows and go lower nor do I think we will have a wash and rinse from the price action we may just move a bit more lower and then go higher.... I’m short now lol but watching the fibs very carefully!

 

[Rgali1]

Sive we bounced off the fib as you stated but I’m not too sure that we will go much further down and break the lows and go lower nor do I think we will have a wash and rinse from the price action we may just move a bit more lower and then go higher.... I’m short now lol but watching the fibs very carefully!

I just hope whats going on in Syria with Isreal and Iran and the inflation data isnt going to push gold higher then this.... we will find out soon i guess...