NEUTRAL GOLD
With price trading in a correction and within a symmetrical triangle it would be best to monitor key supply & demand levels
A break above the 31st May High would indicate bullishness for Gold which I do not expect happening until March or April when the first rate hike happens. Below it is the November 16 High and the 2nd January High all key levels needed to be broken for Gold to be strongly Bullish
Alternatively, 15th December low , 29th December low are lows that if broken could send Gold towards 2nd August low which matches with UBS forecasts by Q4 and that when broken could send price towards JP Morgan forescasts by Q4
** NOT FINANCIAL ADVICE**
A break above the 31st May High would indicate bullishness for Gold which I do not expect happening until March or April when the first rate hike happens. Below it is the November 16 High and the 2nd January High all key levels needed to be broken for Gold to be strongly Bullish
Alternatively, 15th December low , 29th December low are lows that if broken could send Gold towards 2nd August low which matches with UBS forecasts by Q4 and that when broken could send price towards JP Morgan forescasts by Q4
** NOT FINANCIAL ADVICE**
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