GOLD MONTHLY CHART LONG RANGE ROUTEMAP
Hey Everyone,
Last week we stated that after completing all our long range targets, we were seeing price break out of the ascending channel. However we needed to see ema5 cross outside the channel to establish another bullish run above.
The Bullish momentum last week helped clear some of our extended long range targets- BOOOM!!
We also need to keep in mind the detachment below highlighted in circle and may need a correction on the top of the channel to form support for a bounce and continuation above or a break back into the channel will see the swing range zone tested long term.
So far the monthly candle remains above the channel and therefore momentum for the month still remains Bullish with only one last target left on our long term target range at 2483.
We still remain Bullish and will only safely take buys from support levels.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Last week we stated that after completing all our long range targets, we were seeing price break out of the ascending channel. However we needed to see ema5 cross outside the channel to establish another bullish run above.
The Bullish momentum last week helped clear some of our extended long range targets- BOOOM!!
We also need to keep in mind the detachment below highlighted in circle and may need a correction on the top of the channel to form support for a bounce and continuation above or a break back into the channel will see the swing range zone tested long term.
So far the monthly candle remains above the channel and therefore momentum for the month still remains Bullish with only one last target left on our long term target range at 2483.
We still remain Bullish and will only safely take buys from support levels.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
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