$XAU = Gold: Daily Analysis = 18.08.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

Gold took a pause and formed another topping candle today. The odds are still on the dark side. Let’s explore the details.

Daily Candles and Forecast
Today’s candle was another Spinning Top/Bearish Harami Cross. It is a strong bearish, but still requires confirmation.
Tomorrow could be the decision day.
As I type – gold is $1778.55.
If gold closes tomorrow:
– between $1779-1782, this would be the first bearish step;
– below $1772, the top would be confirmed;
– above $1797, the rally would continue.
The lower frames indicators suggest that the top is likely forming.
The daily are more bearish than neutral.
I view the bearish path as very probable at this point.
Odds: Neutral-Bearish

The detailed interpretation of the quarterly/monthly/weekly candles is available in the Premium Content of the latest Weekly.

Forecast:

Gold was damaged greatly in June on the monthly and weekly frames. The odds are strongly on the dark side. The mid- and long-term forecast are available in the latest Weekly Analysis.

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Long Term Forecast for Silver – Premium Content (subscription required)

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