Gold Report (Futures)

In the graph above, we can appreciate how, since March, we have entered a bearish correction process that, according to our analysis, has not yet ended. We think that there is still a downward stretch to complete to fill the volume that we have marked in red for March. Furthermore, the volume marked in orange can be tested in conjunction with the trendline in order to generate that last bearish movement that we expect before a return to highs: If the scenario comes to pass, we see it as extremely difficult for this level (support in red) to break, on the contrary we expect a strong rebound that breaks the trendline and takes the price towards highs.

Daily Graph:

4 hours Graph:

From this graph, we clearly see the level from which we expect a reaction that could take the movement downwards. We advise waiting for the price to reach the interested zone (green resistance) and see the reaction of the price. If the zone is broken strongly upwards and the scenario is maintained, it could be cancelled.

15 minutes Graph:

If the price acts as we expect in the coming sessions, the marked bar will be the first level that will have to be strongly broken given that it is a bar of strong volume that can have bullish responses if it is touched again. It is an area in which care should be taken in case new bullish reactions appear again.

With the cyclicality in this case of the last 10 years, we take the statistics in our favor given that the month of September is historically bad in the financial markets and especially in gold.

This helps us have a good strategy using the synergy of statistics with graph analysis.

Final comment:

We expect very short-term increases in gold to its 1980/1990 value, where we expect a strong price reaction that should take prices to previous lows or even lower levels around 1880.