analytic descrption of dollar on the annual candle setting
from the year 1970 up until Jan 1980 we have had a strong upsurge of the price.
thereafter gold experienced a correction that lasted for almost 20 years.
the final upward move of the price also took 10 years time, after which we see that the price of gold is in a corrective mode both in price and time.
it seems like that gold will jump into another 10 to 15 years of correction. And as you see we have a very long stretch of ichi cloud that is red in color and the price has an inclination to drop and touch that cloud that stands at the level of 460 dollar in price. this of course will take time.
As the dollar index is expected to fall in the long run, this scenario for gold is not going to be unlikely.
The RSI also shows a negative divergence in this time-frame and that can be too discussed in detail.
from the year 1970 up until Jan 1980 we have had a strong upsurge of the price.
thereafter gold experienced a correction that lasted for almost 20 years.
the final upward move of the price also took 10 years time, after which we see that the price of gold is in a corrective mode both in price and time.
it seems like that gold will jump into another 10 to 15 years of correction. And as you see we have a very long stretch of ichi cloud that is red in color and the price has an inclination to drop and touch that cloud that stands at the level of 460 dollar in price. this of course will take time.
As the dollar index is expected to fall in the long run, this scenario for gold is not going to be unlikely.
The RSI also shows a negative divergence in this time-frame and that can be too discussed in detail.