Is GOLD Ready to Rip?! Long Term Breakout Looming
Updated
It's a pretty clear long-term horizontal range in gold.
The break of a downtrend line suggests another test of the range top.
Here is a bullish scenario for what follows.
The Trade- enter at the breakout, add more on the pullback, cut losses if price moves back into the range or add more on the break of the high formed after the break - then ride it to 2200 and more...
Note
Crazy spike at the breakout to new highs - breakout still on unless a daily close under 2040 - then would abandon idea until closes back over it
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Market Analyst at WeTrade
wetradebroker.com/education/analysis/jasper/
Contributor to SpreadEx
spreadex.com/financials/news-analysis/weekly-technical-analysis/
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