Gold FuturesLong
GC Daily broke into buy zone
The GC daily time frame is in a long term up trend.
The market formed a low price near the up trend
line and pushed bullish. The market broke and
closed above the short term down trend line. It
will be a good idea to turn to the one hour time
frame and to look for long ideas in the buy zone
towards the daily limit price point 1996.8
about +1,468 Ticks above the market.
P.S. There is still a down Fibonacci with an
extension price point 1781.7 that was not hit. The
market does not need to fall and hit the down
Fibonacci to go up. However, if the market does
fall. That is the bear target the market is
expected to hit.
The market formed a low price near the up trend
line and pushed bullish. The market broke and
closed above the short term down trend line. It
will be a good idea to turn to the one hour time
frame and to look for long ideas in the buy zone
towards the daily limit price point 1996.8
about +1,468 Ticks above the market.
P.S. There is still a down Fibonacci with an
extension price point 1781.7 that was not hit. The
market does not need to fall and hit the down
Fibonacci to go up. However, if the market does
fall. That is the bear target the market is
expected to hit.
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