Gold: towards 818 USD / Oz?

Long term: towards MQ

On a yearly basis: a type II is in progress. LY could continue to decline with a bullish T9. This PEI is the strongest that we know. Expect to use Dow Jones 1980 / 2000 bull trend as a benchmark.

On a quarterly basis, a bullish parallel pattern is in progress. A bearish no-crossover is in progress with our stochastic. MACD is overbought. LM should fail as a support, MQ is our next objective.

On a monthly basis, UM / LM spread is under the 2005 level. A bearish no-crossover is the status for our MACD. The status for our moving averages will be a type A.

Idea: monthly MACD as a leading indicator

Bet: as long as our monthly stochastic is not oversold, MQ is our main objective.

R= MM (1661);    S= 1520 support, MQ (1332), PY (818) if quarterly MACD  is not oversold on MQ.

Medium term: bearish?

On a weekly basis, if the status for our stochastic is overbought, a PEI will be the status for our MACD. Then a sell-off will develop.

Idea: use our weekly MACD as a leading indicator

Bet: Bearish as long as PW= resistance. Technical recovery as long as MW= resistance.

R= PW (1613.7), MW (1638.8);   S= current low (1540)

Short term: a type II could develop

On a daily basis, UD / LD spread is expending. A PEI is the status for our MACD.

Idea: bearish trend with a PEI as a status for our moving averages

Bet: UD trend will continue to rise.

R= MD (1617);   S= 1540, —

Conclusion: only a technical recovery as long as MD= resistance.

Une réflexion au sujet de « Gold: towards 818 USD / Oz? »

  1. Thierry

    Bonjour Monsieur Cahen,
    J’ai lu votre dernier livre récemment, je commence à mettre en pratique votre méthode avec des analyses de type économique sur l’ Or et l’EUR / USD).
    Je me posais la question suivante : sur le graphe quotidien de l’or, y a-t-il un situation de pré-parallèle depuis le 8 avril ?
    Je vous remercie d’avance pour votre réponse et je vous souhaite un bon w-e.
    Thierry

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