Is gold ready for the next leg higher?

8 พ.ย. 2019

It looks like gold is following an ascending slope, which it made in early 2019. Since the high of the year it's consolidating and almost made it to the lower parallel of the 2019 slope line. During consolidation it had a decent rejection from a 100% extension line of previous down move. Gold could make another 100% extension at "possible" slope support @ 1443. It's currently testing the October low and Juli high.

Daily Chart (overview)


4-Hourly Chart.
Descending Pitchfork, little messy, but also intersects in the area of 1450-1440.


1-Hourly Chart.
Descending Pitchfork from hourly chart also intersects @ same area.