Gold- The do or die moment
There is a week now since Gold is fooling around in a (more or less) 100 pips range.
My bullish bias isn't changed ( at least for now), but the incapacity to stay above 1760 and have a decisive break of this zone is starting to annoy me.
From a technical perspective, as I said, we have a 100+ pips range with clear support under 1750 and resistance above 1760.
Considering last week's close, the bulls are in control. However, in the short term, we can see that Gold is trying to carve an H&S and a break under the neck-line would confirm this pattern and would change the chart's structure in a strongly bearish one.
That being said, I will stay long for now, with tight SL
My bullish bias isn't changed ( at least for now), but the incapacity to stay above 1760 and have a decisive break of this zone is starting to annoy me.
From a technical perspective, as I said, we have a 100+ pips range with clear support under 1750 and resistance above 1760.
Considering last week's close, the bulls are in control. However, in the short term, we can see that Gold is trying to carve an H&S and a break under the neck-line would confirm this pattern and would change the chart's structure in a strongly bearish one.
That being said, I will stay long for now, with tight SL
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💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
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