GOLD LONG SETUP
Over the weeks, I've been talking about GOLD bullish setup and sentiments remaining so so intact, today we've a more clear sign showing GOLD coul be ready for the said BULLISH continuation, like i said in my last analysis on GOLD, price is still trading inside the BULLISH FLAG indicated on the 4H and daily chart.
Nevertheless, price has been finding support at the 61.8 Fibonacci retracement zone @ 1817.00 of that last impulse move from the support of the said bullish flag to the resistance zone, we also have a range bond on the 4H,1H and daily chart between 1817.00 as support level and 1863.00 zone as resistance.
Today we've price break above the range bond resistance zone.
We'll be looking out for retest holding of the resistance zone @ 1863.00 zone to act as new support and invariably set price higher, with speculation that price will take out the BULLISH FLAG resistance zone and continue higher to GOLD all time high around 1271.00 and beyond.
Nevertheless, price has been finding support at the 61.8 Fibonacci retracement zone @ 1817.00 of that last impulse move from the support of the said bullish flag to the resistance zone, we also have a range bond on the 4H,1H and daily chart between 1817.00 as support level and 1863.00 zone as resistance.
Today we've price break above the range bond resistance zone.
We'll be looking out for retest holding of the resistance zone @ 1863.00 zone to act as new support and invariably set price higher, with speculation that price will take out the BULLISH FLAG resistance zone and continue higher to GOLD all time high around 1271.00 and beyond.
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