Gold - This Resistance Decides Everything!
Gold (
GOLD) is retesting massive resistance:
Click chart above to see the detailed analysis👆🏻
All bullruns will eventually end with a consolidation or a correction but on Gold it is clearly not certain whether this bullrun is actually over or not. We are seeing a lot of indecision price action lately but in order to turn bullish, Gold has to break this resistance.
Levels to watch: $2.700, $2.000
Keep your long term vision,
Philip (BasicTrading)
GOLD) is retesting massive resistance:Click chart above to see the detailed analysis👆🏻
All bullruns will eventually end with a consolidation or a correction but on Gold it is clearly not certain whether this bullrun is actually over or not. We are seeing a lot of indecision price action lately but in order to turn bullish, Gold has to break this resistance.
Levels to watch: $2.700, $2.000
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Gold (GOLD):
Click chart above to see the detailed analysis👆🏻
Gold has not been moving anywhere for the past four months and considering that Gold is retesting a major resistance trendline, this is not a too bullish scenario. However, we also did not see proper bearish confirmation on the smaller timeframes yet so either move is still possible.
Levels to watch: $2.700, $2.000
Keep your long term vision,
Philip (BasicTrading)
Trade closed: target reached
Trading update on Gold (GOLD):
Click chart above to see the detailed analysis👆🏻
Quite likely that with this monthly bullish engulfing candle, Gold will now just create new all time highs in the very near future. But the trendline still remains valid and it will act as a strong resistance until Gold manages to create a clear breakout. Price action is now very important.
Levels to watch: $2.700, $2.000
Keep your long term vision,
Philip (BasicTrading)
Keep your long term vision.
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Keep your long term vision.
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