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In theory, the ground in gold shouldn't be too far


A priori, the conditions exist to believe that gold should start to rebound more or less strongly from the current price levels.

Technical analysis

Short term

Medium term

Long term

From the annual and historical highs that the gold marked on August 7 at 2,075 dollars the price accumulates a fall of 15%. This is absolutely within the normal parameters. At this point it seems that the conditions are in place for the price to try to restructure upward from current levels for various reasons. On the one hand, price increases aside, we have him flirting with the support zone presented on the MM200 daily. And also the price is quoting at the base, by definition support, of the bearish channel for which the price has been moving in recent months. Which, in theory, leaves the door open for the rebound to be cooking. Let's say we are facing that situation that a server likes to call a "now or never".

Gold ounce daily chart


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