Greeting from IRAN to whole trading community
Gold was moving through a descending channel since August 2020 and making lowers highs (LH) and lowers lows (LL)
Price has dropped to the bottom of the channel and made a double bottom pattern
After that it started a new uptrend that could breakout top of the channel and made a new high , higher than its previous lower highs which is a sign of trend shifting
If Gold could breakout 1900$ major level , higher levels will be available
But if this bullish movement lost price will come back to the descending channel and probably dropped under 1800$
Whats your idea about upcoming week , Gold remain Bullish or shift to the Bearish form?
KEEP IT SIMPLE :)
Gold was moving through a descending channel since August 2020 and making lowers highs (LH) and lowers lows (LL)
Price has dropped to the bottom of the channel and made a double bottom pattern
After that it started a new uptrend that could breakout top of the channel and made a new high , higher than its previous lower highs which is a sign of trend shifting
If Gold could breakout 1900$ major level , higher levels will be available
But if this bullish movement lost price will come back to the descending channel and probably dropped under 1800$
Whats your idea about upcoming week , Gold remain Bullish or shift to the Bearish form?
KEEP IT SIMPLE :)
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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.
Related publications
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.