GOLD: Thoughts and Analysis
Today's focus: GOLD
Pattern – Channel Test
Support – 2023 - 2020
Resistance – 2035.80 - 2055.60
Hi, traders; thanks for tuning in for today's update. Today, we are looking at Gold on the daily chart.
Gold saw a solid session to end last week but failed to break its price channel. Will we see the channel hold price and possibly send it back to the bottom on the pattern? Or could we see the current short-term bull run contnue to push higher with a break out of the the channel?
The USD could play a role in this picture. Currently, it is fought back from a piercing low, but is that a true sign of demand or just a short-term bleep before sellers start a new push?
Good trading.
Pattern – Channel Test
Support – 2023 - 2020
Resistance – 2035.80 - 2055.60
Hi, traders; thanks for tuning in for today's update. Today, we are looking at Gold on the daily chart.
Gold saw a solid session to end last week but failed to break its price channel. Will we see the channel hold price and possibly send it back to the bottom on the pattern? Or could we see the current short-term bull run contnue to push higher with a break out of the the channel?
The USD could play a role in this picture. Currently, it is fought back from a piercing low, but is that a true sign of demand or just a short-term bleep before sellers start a new push?
Good trading.
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