Daily scenario:
Price could find som resistance (taking profit) and start retrace in a general uptrend targeting the 200ma, based on daily dont look to short it.
30m scenario:
Price did create a 123bullish pattern with SL 72,50 targeting 73,80 area. Failed
4hr scenario:
Price move within the channel, price should target 71,40 , the price could also reach 30m possible targets 73,83 before resuming down move.
Daily scenario:
Price could find som resistance (taking profit) and start retrace in a general uptrend targeting the 200ma, based on daily dont look to short it.
30m scenario:
Price did create a 123bullish pattern with SL 72,50 targeting 73,80 area. Failed
Activate now: Price move within the channel, price should target 71,40 , the price could also reach 30m possible targets 73,83 before resuming down move.
Gold Scenario 1: Price fall to 1775 area to find support targeting 1796, SL 1772 Scenario 2: Price continue up move (if price did not went down to 1775) then look to short it below 1793 targeting 1775
Gold Scenario 1: Price chose this scenario, support 1775 Price fall to 1775 area to find support targeting 1796, SL 1772 Scenario 2: Price continue up move (if price did not went down to 1775) then look to short it below 1793 targeting 1775 What a beauty , Gold went down precisely to 1772/3 area then find support {image}
We have to calculate all possible scenarios based on existing tools:
Better CPI number.
This means less risk of inflation and that the market already takes care of inflation today with tools already used, ie. the support of the Fed. The market can interpret that the Fed should not be in a hurry in the tapering process and that interest rate hike is no longer urgent, with this said Gold can move north and Dow north while dollars can get a bang.
Inferior CPI number.
This means a high inflation risk that the Fed must deal with quickly with today's tools by speeding up the tapering process and rising expectations regarding interest rate hikes. Gold should collapse and the Dow may fall hard, the dollar may get stronger against other currencies.
Gold:
From the technical side of Gold in bearish divergence targeting 1766 and 1760, that area is considered the support zone.
Dow:
Dow has created 123 bearish in 4hr and as long as it does not rise above 36000 then we can trageting deep south.
Oil:
We have already said that Oil is now in a correction phase in up trend support on 66.50-67 area.
All analysis can change quickly depending on what the CPI number says.
