Gold is on the way to $1,550!
Hello dear precious metal fans, hope you're doing well guys! ;)
My big flagship analysis to Gold is in full play-out mode with breaking the $1350-70 resistance to the upside. If you haven't seen it, I would 100% recommend to read it:
If we close this week under $1,400 psychological, we could retest the upper range of the breakout zone again around $1,370-80. But now it will be a hell lot of easier, since it will be now an S&R zone: Which was huge resistance before, should now become our bottom.
After the $1,400 psychological is cleared, If we look at the bigger timeframe on the monthly, we can only see one major resistance left: The monthly lower Highs at $1,433. After this resistance is cleared, there is nothing to hold Gold back from reaching the 2013 bottom breakout of $1,550.
So: Congrats to the bulls! This might be the new attack towards All Time Highs!
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
My big flagship analysis to Gold is in full play-out mode with breaking the $1350-70 resistance to the upside. If you haven't seen it, I would 100% recommend to read it:
If we close this week under $1,400 psychological, we could retest the upper range of the breakout zone again around $1,370-80. But now it will be a hell lot of easier, since it will be now an S&R zone: Which was huge resistance before, should now become our bottom.
After the $1,400 psychological is cleared, If we look at the bigger timeframe on the monthly, we can only see one major resistance left: The monthly lower Highs at $1,433. After this resistance is cleared, there is nothing to hold Gold back from reaching the 2013 bottom breakout of $1,550.
So: Congrats to the bulls! This might be the new attack towards All Time Highs!
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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