Gold Weekly:
Daily Candle is Healthy Bullish Engulfing with no Upper wick showing the buyers are in driving seat.4 Hours candles are like 3 white soldiers. Candle formation are totally bullish.The structure that made the breakout is inverted H&S on 4H TF.
The price is above the ichimuku bullish cloud in Daily , also bullish in 4H. MACD is also green. Price is above key moving averages in Daily and 4 H TF.
On fundamentals side, last NFP showed mix data, In addition rate cut expectation is nearing by.
Important thing to note that there in no major announcement on Monday- Wednesday next week. On Thursday there is release of CPI. So by then I think Gold will test 2400-2430-2450. That will be the weekly Target.
On down side any dip towards 2370-2365 ( FIB 50-61.80 % retracement 1D) or 2352 will be a good level to enter fresh Buy with abovementioned Target.
Good Luck for next Week.
I Would like to hear your comments on the idea
Daily Candle is Healthy Bullish Engulfing with no Upper wick showing the buyers are in driving seat.4 Hours candles are like 3 white soldiers. Candle formation are totally bullish.The structure that made the breakout is inverted H&S on 4H TF.
The price is above the ichimuku bullish cloud in Daily , also bullish in 4H. MACD is also green. Price is above key moving averages in Daily and 4 H TF.
On fundamentals side, last NFP showed mix data, In addition rate cut expectation is nearing by.
Important thing to note that there in no major announcement on Monday- Wednesday next week. On Thursday there is release of CPI. So by then I think Gold will test 2400-2430-2450. That will be the weekly Target.
On down side any dip towards 2370-2365 ( FIB 50-61.80 % retracement 1D) or 2352 will be a good level to enter fresh Buy with abovementioned Target.
Good Luck for next Week.
I Would like to hear your comments on the idea
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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.
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.