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mohsinqureshii

Gold Bullish or Bearish

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I don't trade gold but I think gold is a good long term investment.

For this month, if it can pass 1742, buying pressure will increase. If it breaks 1700, it will head back to 1646.

 

Gold might have a short term drop near 1680-90 this week.

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My personal opinion is daily and weekly charts are bullish but 4h charts are bearish (heading to 1709 and 1698)...However I don't think that gold will fall below 1600...at least for now...

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What do you see Gold in next 3 months ? Bullish or Bearish ? Is Gold really heading towards 2500 $ an oz as major research firms of the world predict.

 

Your view please.

 

Since March 2003, all markets (capital, currency, commodity etc.,) has an inverse-relationship to Dollar (with the exception of SSE that started much later at 2005). Monitor Dollar index closely. But if anyone can accurately predict Dollar index performance in the coming month amid all these positive and negative news (Greece, Eurozone, QE3, FED zero interest rate, improved US economic data, China hard landing etc.,) perhaps traders can do away making analysis on individual counters.

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We are witnessing a period of low volatility, the ratio 6/100 of the historical volatility has fallen below 35%, expect a wide-range bar the biggest of the last 10 bars, to get an indication about where the price will move

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Definitely I think that the gold has finished the correction of the recent rally, and it is about to start a new bullish session. There is a double-bottom pattern at $1700, which is a strong signal for the gold. A break-up of the current resistance at $1740 will be the beginning of the bullish reversal and the gold will probably try to take over $1800 again.

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I'm talking long term over many years. I couldn't say when so I'm not advocating a trade.

I'm a buyer/holder on dips/extreme sell offs. I like it when gold tanks 5%. That usually gets me interested, but I wait for support levels before buying.

I'm not a buyer here, maybe under 1500.

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I believe gold trend on the basis of daily trend which is estimate on the basis of technical analysis. like today's gold trend is down. it depends upon the analysis style.:helloooo:

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