Follow the trend
After Gold broke the first parallel down trend we saw the highest ROC and It is usually highest in the openings of a bull market.
Now the ROC is in a fairly good spot, not overbought.
The AM & PM Fix doesn't show any signs of gold having peaked yet.
Where the ROC points price tends tp follow, gold could advance more. We have currently rejected the lower trendline (1483) in the newer more exponential channel up, also right above the long support at 1477.
In my humble view, we will see gold rise further and try and take out the resistance line at 1570 yet again, if successful the way to 1800 is rather clear of resistance.
As always there will be fluctuations.
Happy trading & a good day
Now the ROC is in a fairly good spot, not overbought.
The AM & PM Fix doesn't show any signs of gold having peaked yet.
Where the ROC points price tends tp follow, gold could advance more. We have currently rejected the lower trendline (1483) in the newer more exponential channel up, also right above the long support at 1477.
In my humble view, we will see gold rise further and try and take out the resistance line at 1570 yet again, if successful the way to 1800 is rather clear of resistance.
As always there will be fluctuations.
Happy trading & a good day
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