Worldwide gold is a traditional Christmas present which makes its price go bullish by the start of December because gold sellers stock up on their supplies.
When we compare last year's price movement and the level where gold is currently sitting we find an almost identical setup.
Strong bearish swing which came to a halt at the 50 Fib-level which has been both support and resistance since the end of September.
Compared to last year's bullish move we can expect for price to go up again until somewhere around the 1950 USD zone.
When we compare last year's price movement and the level where gold is currently sitting we find an almost identical setup.
Strong bearish swing which came to a halt at the 50 Fib-level which has been both support and resistance since the end of September.
Compared to last year's bullish move we can expect for price to go up again until somewhere around the 1950 USD zone.