Long

Bull flag formation, potential long opportunity

Updated

This is a continuation from my previous chart where we bounced from the major support around 1403. Now it looks like a bull flag formation. We could see gold go up to the next major resistance area of 1416 and then 1424 after that we might see a minor correction to around 1392- 1400 or we might continue going up, we already got a small correction and the fundamentals are looking really good.

previous chart:

Just broke major support, down to 1394 or bounce back up?

Note

yep that major swing downwards happened while i was writing the up description. The bull flag is no longer in play.

Note

actually could still be a bull flag, I might have started the flag too high.

Note

definitely not in play anymore

edwnjos99

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