Gold Price Reaction at the First Pivot after Yearly Inflection

For a long time, we’ve discussed about the significance of the 10th and 31st March gold cycles, as well as the yearly inflection numbers of 1680-1675. On the 10th of March (the diverged cycle), a gold low was formed, followed by another on the 31st of March (the short-term cycle). As previously stated, the first bounce from the yearly inflection of 1680 will be the pivot of 1760-1765; gold hit this number last week on Friday at a high of 1758.70, and then pulled back to the 1730 area, where the mini breakout occurred on daily charts. Today, we’ll look at the gold price reaction at the first pivot and discuss the next gold scenario to be formed based on technical and price action analysis.

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