The War between Bulls and Bears

Gold 1-hour chart

The chart tells the great war between bulls and bears at the significant area (the Pivot Zone). The patterns of bulls and bears are indicating that bulls are trying very hard to get  gold to test yearly high at 1346 while bears also try to defense their borders from bulls attacks. 

Bulls Patterns: 
– Saucer Bottom at 1281-1288 area which forms the base to give bulls the chance to counter attack from last  bearish action down from 1346. 
–  Cup and Handle Pattern is the ultimate weapon for bulls to re-take yearly high at 1346 
– MA(200) acting as the defense (support) line to hold any bears counter attacks 

Bears Patterns: 
– Tower Top Pattern shows bears trying hard to stop any  bullish actions 
–  Evening Star Pattern might signal the end of bulls attacks from 1281 
– Last  bearish defense (resistance) line at .0618  Fibonacci Retracement to hold any bulls 

War Zone (  Pivot Zone) is the border line where bulls and bears are fighting hard to take advantage from the others. If bulls can get through the border line, they will try to take over at the bears last defense line. Meanwhile, bears will try to push bulls back and dampen any bulls chances to take out their last defense.


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