Gold Could Take Out $1790
From a monthly perspective, Gold has recently tested a monthly demand and take profit zone near $1610. We as traders should expect a weekly break of structure in this area so that a monthly bullish candle forms as a result.
Looking at price action, we can see gold has made a monthly impulse to the downside for about 6 months. Price looks to be exhausted at current levels, and I expect movement towards the upside near $1790 in about 1-2 months.
Looking at price action, we can see gold has made a monthly impulse to the downside for about 6 months. Price looks to be exhausted at current levels, and I expect movement towards the upside near $1790 in about 1-2 months.
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.