Idea: Bullish Gold daily (weekly) chart
Updated
Idea (NO financial advice!):
Gold seems to break the resistence line at roughly 1233/34 ( daily chart ) and might test this line again (see first blue arrow). If the line functions as support, there is potential to roughly 1273 (see weekly chart, trend line: tradingview.com/x/WV8bbrfZ/).
In the long run (weekly chart) there is even potential for reaching the resistence line at 1350.
Dependent on US Dollar and the overall economy.
Gold seems to break the resistence line at roughly 1233/34 ( daily chart ) and might test this line again (see first blue arrow). If the line functions as support, there is potential to roughly 1273 (see weekly chart, trend line: tradingview.com/x/WV8bbrfZ/).
In the long run (weekly chart) there is even potential for reaching the resistence line at 1350.
Dependent on US Dollar and the overall economy.
Note
First target reached. I will stay in the trade but with a tight stop loss.
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.