$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.

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

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


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

The long term perspective also remains unchanged.

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