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I believe we will see a low formed in the gold price between...

  1. 106 Posts.
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    I believe we will see a low formed in the gold price between 1733 and 1763 USD by Dec 18 2020. This is a correction based on the slope of this trend compared to the Mar to Aug trend.

    Here is the analysis behind that statement (see chart)
    * A congestion of fibonacci ratio's around this price level
    * There is a corresponding support level from Apr to Jul around this level.
    * Both stochastic and RSI showing we are close to the bottom. Compare current levels with Mar 19 2020.

    My estimate for WHEN this will happen is by Dec 18 2020 at the latest, but I think it is more probable it will be before Dec 4 based on the STO and RSI signals. Dec 4 represents 61.8% of the time that wave "(w)" took to form, from Aug to Oct. Dec 18 relates to the same amount of time.

    This is just my opinion, you should act on your own research.

    https://hotcopper.com.au/data/attachments/2684/2684293-93289f802e98464d285515a2bb94a387.jpg
 
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