So Gold has made a corrective movement from the R1 Monthly Pivot to the P Monthly Pivot , with the
Fair Value price tested between the Monthly Pivot and the 200 MAV.
Between Support and Resistance , there is a seemless /fluid price movement , between $1823 - $ 1950 , offering little resistance to further deterioration of the Gold price.
The following scenario is to considered as price
1. Moves from R1 to P.
2. Rejection from Resistance Zone and price movement to the Monthly S1 ( Support Zone)
3. Price bounce back towards the Monthly R1 , as buyers reenter the market.
Fair Value price tested between the Monthly Pivot and the 200 MAV.
Between Support and Resistance , there is a seemless /fluid price movement , between $1823 - $ 1950 , offering little resistance to further deterioration of the Gold price.
The following scenario is to considered as price
1. Moves from R1 to P.
2. Rejection from Resistance Zone and price movement to the Monthly S1 ( Support Zone)
3. Price bounce back towards the Monthly R1 , as buyers reenter the market.