CYCLE ANALYSIS ON D1
Price is trading in the transition zone between 1682 and 1708.
The midterm Cycle top is at 1703
14th May completes the mean 50% time range of the prevailing cycle and 15th May can start a new trend
An offset or overlap of 9 to 21 days is typical in Gold trend.
Although the current top shows a triangle pattern which looks exciting as a bullish flag, it is not enough to just look
at it and fix gaze on a particular direction.
The start of a new trend on a cycle time can go either directions
A sustained break of the the transition zone is the direction to trade and a break on 50% time is the strongest signal
With the offset time range the dates to expect are
14th/15th May
18th - 23rd May
27th/28th May
4th June
If a new bullish trend starts, price targets are 1882, 1948 and a top at 2033
A bear trend has a stronger support at 1532
Note that Gold is still bullish and any down trend is just a correction to the primary trend towards 2033 price level
The midterm Cycle top is at 1703
14th May completes the mean 50% time range of the prevailing cycle and 15th May can start a new trend
An offset or overlap of 9 to 21 days is typical in Gold trend.
Although the current top shows a triangle pattern which looks exciting as a bullish flag, it is not enough to just look
at it and fix gaze on a particular direction.
The start of a new trend on a cycle time can go either directions
A sustained break of the the transition zone is the direction to trade and a break on 50% time is the strongest signal
With the offset time range the dates to expect are
14th/15th May
18th - 23rd May
27th/28th May
4th June
If a new bullish trend starts, price targets are 1882, 1948 and a top at 2033
A bear trend has a stronger support at 1532
Note that Gold is still bullish and any down trend is just a correction to the primary trend towards 2033 price level