02. XAUUSD
Nov. 2018 we see the start of a new bull trend on the daily. This is following a major support being established at 1200.00
At the start of this year, gold ranged for a bit on the daily before making a big push into January 2017's consolidation range of 1300.00 -1365.00 last friday (Jan 25)
This week we saw an almost uninterrupted continuance into the major supply zone from last year. UNTIL yesterday. After a strong bull move into a zone of heavy activity, we saw evidence of weakness in the demand on gold.
Price may be seeking support over the next week or two. Waiting for a stronger bear signal.
At the start of this year, gold ranged for a bit on the daily before making a big push into January 2017's consolidation range of 1300.00 -1365.00 last friday (Jan 25)
This week we saw an almost uninterrupted continuance into the major supply zone from last year. UNTIL yesterday. After a strong bull move into a zone of heavy activity, we saw evidence of weakness in the demand on gold.
Price may be seeking support over the next week or two. Waiting for a stronger bear signal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.