Gold bull 1st week of May
Updated
Gold price started to consolidate in the last two weeks after a terrific bounce. The trend continues to move high and get pause between 1803-1810 region. Maybe NFP will become the catalysts.
Reason for bullish
My recommendation to buy till new high
Reason for bullish
- Gold price closed above the 1765 resistance which is the broken level in Feb 2020
- Gold price did not made strong rejection after hitting weekly MA20
- Gold price did not run below daily 20MA
- Gold price didn't complete the 100% fib correction yet
- New Month New candle pullback
- New week New candle to MA20 retest
My recommendation to buy till new high
Note
All OVER - Wait for NEW ONE
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