Gold Spot / U.S. DollarUpdated Monitor Gold in the next 3-8 months!
Gold has made a consolidation pattern in the last 14 months but in the past few days has entered the breakout zone!
In most triangle consolidation patterns, breakouts usually occur after 0.618 Fib time!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Multi-Timeframe Analysis:
Hourly Chart: Bullish channel (Bullish)
Daily Chart: breaking above the downtrend line and finished pullback (Bullish)
Weekly Chart: consolidation pattern (Neutral)
Monthly Chart: trading below the major resistance level (Neutral)
Conclusion: Gold could move toward 1830 in short term. However, Gold needs to close above 1825-1830 level to move at a higher pace..! and it is highly likely to happen in the next 3-8 months!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
In most triangle consolidation patterns, breakouts usually occur after 0.618 Fib time!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Multi-Timeframe Analysis:
Hourly Chart: Bullish channel (Bullish)
Daily Chart: breaking above the downtrend line and finished pullback (Bullish)
Weekly Chart: consolidation pattern (Neutral)
Monthly Chart: trading below the major resistance level (Neutral)
Conclusion: Gold could move toward 1830 in short term. However, Gold needs to close above 1825-1830 level to move at a higher pace..! and it is highly likely to happen in the next 3-8 months!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Note
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
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.
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
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.