$Gold $XAU = Daily Analysis = 14.12.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #fintwit

Today’s candle was a strong attempt to make a new low and there was no move that would signal a possible bottom. Let’s try to decipher the messages from the candles, TA and waves.

This daily overview contains:
– analysis of the daily chart and TA;
– 2hr EW chart with the short-term targets;
– mid- and long-term forecasts.

CANDLES
The quarterly and monthly frames remain bearish. After today’s move, the weekly candle is within points of becoming a very bearish either.

Daily
Today’s candle canceled the Piercing Line and flipped the odds to the bearish side. The candle closed below all 8/20/50/100/200 EMA/MA lines. It’s closing print and the candles on the smaller frames suggest that the move downwards should continue.
Gold needs to close above at least $1780 to signal a bullish attempt. Any other closure would keep the odds bearish.
Odds: Bearish

ELLIOTT WAVES

The short term path remains the same as it was outlined several weeks ago.

The long term perspective also remains unchanged.

If you would like to continue reading, please subscribe for Premium Content.

Premium Content

Read more of this content when you subscribe today.

Follow the blog on Twitter @InvestingAngles or, if you want all posts in your inbox, by email subscription.
https://investingangles.com/subscription/

Previous Analysis:
https://investingangles.com/2021/12/11/gold-xau-weekly-analysis-11-12-2021-gold-preciousmetals-gdx-gld-xauusd-gc_f-investing/

%d bloggers like this: