GOLD GOING TO 1185 - NOW, 1077 - YEAR, 700 - LATER

GOLD GOING TO 1185 - NOW, 1077 - YEAR, 700 - LATER

12 November 2015, 19:42
forexintel
0
96

I had mentioned about a retracement in gold price in my recent posts. https://www.mql5.com/en/blogs/post/654260. Even though the gold price went below the last week's low, i still haven't closed the BUY orders. I am still wary of the level 2 set up showing a huge potential for an upward retracement. With only 7 W1 candles left in the year, they seem to be more poised to go up instead of going down. The gold price should have gone down in the month of September itself. Since it did not, the current level 2 set up indicates a strong possibility of a price rise as the gold price has been inching down for the past two and a half years. Looks like there will be a retracement in MN time frame before the gold price goes to 700.

 

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