Gold in 2023!!!... New highs ,Trading range or Lower, who know's
Where will gold head into 2023 and beyond... I don't know however I what I can share is my view, this is not trading advice.
Gold made a high at 2075-2070 double top then dropped down to 1615 -1622 (450pt) and currently at 1810-1795 range(200pts) halfway mark 50%, can it go higher? maybe or into consolidation.
Support for gold would be 1775-1725 and resistance would come in at 1845-1860 short term, 1885-1900 this is in the medium term trading range, break out above 1900 then upper resistance 1940-1965 and higher to retest 2000-2075 double top.
Break down of 1775-1725 then 1670-1645 and even retest of 1622-1615 or breakdown to lower levels... will get to that later.
Now some number's from 1047:
1047-2075(1030pts), 2075-1677(400pts+/-),1677-2070(400pts+/-), then from 2070-1615(455pts) and from 1615-1833(215pts) currently at 1810 break out above 1830-1835 then 1845-1860 to 1885-1900 caution would be recommended at this higher range as it could break to the upside or even start breaking down to 1775-1725 and lower to 1622-1615.
Breakout above 2075(if it happens) then 2210-2360 quite probable and higher targets are possible.
Break down below 1615 (my preference) then 1560-1520, 1480-1430-1400, should 1430-1400 not hold support then next support zone = 1375-1325 or even lower.
Count from All time Low: 100-873= 1, 873-254=2, 254-1921=3, 1921-1047=4? or A?, 1047-2075(2070)=5? or B?... when price got to 1047-2075(2070) the count has lost its shine... my crystal ball has lost its clarity however Gold is in a trading zone if its break out above 2075 then 2210-2360 to complete 5 or if it breaks below 1615 then 1560-1520, 1480-1400 or lower to 1375-1325 to complete C of 4.
Happy New Year
Gold made a high at 2075-2070 double top then dropped down to 1615 -1622 (450pt) and currently at 1810-1795 range(200pts) halfway mark 50%, can it go higher? maybe or into consolidation.
Support for gold would be 1775-1725 and resistance would come in at 1845-1860 short term, 1885-1900 this is in the medium term trading range, break out above 1900 then upper resistance 1940-1965 and higher to retest 2000-2075 double top.
Break down of 1775-1725 then 1670-1645 and even retest of 1622-1615 or breakdown to lower levels... will get to that later.
Now some number's from 1047:
1047-2075(1030pts), 2075-1677(400pts+/-),1677-2070(400pts+/-), then from 2070-1615(455pts) and from 1615-1833(215pts) currently at 1810 break out above 1830-1835 then 1845-1860 to 1885-1900 caution would be recommended at this higher range as it could break to the upside or even start breaking down to 1775-1725 and lower to 1622-1615.
Breakout above 2075(if it happens) then 2210-2360 quite probable and higher targets are possible.
Break down below 1615 (my preference) then 1560-1520, 1480-1430-1400, should 1430-1400 not hold support then next support zone = 1375-1325 or even lower.
Count from All time Low: 100-873= 1, 873-254=2, 254-1921=3, 1921-1047=4? or A?, 1047-2075(2070)=5? or B?... when price got to 1047-2075(2070) the count has lost its shine... my crystal ball has lost its clarity however Gold is in a trading zone if its break out above 2075 then 2210-2360 to complete 5 or if it breaks below 1615 then 1560-1520, 1480-1400 or lower to 1375-1325 to complete C of 4.
Happy New Year
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