Xauusd heading for next target 2323. In case of retracement watch for fib level 0.618.
Gold contineus sustained his bull run and is according to the trend heading for 2300. For entry watch also levels 2263-2257 for retracement level 0.618 and support level 2247-2238.
Today gold fully broke out of the wedge and made an new ATH at 2233. Because of this bullish market sentiment we can expect price to grow towards 2266 and in case of an retracement it can drop to fib level 0.618 around 2200-2205 to continue the bull run again.
As we see we have a bullish continuation pattern. That will take us to the first targets 2195 and 2210. On the other side we see a bearish (flag) pattern which means that gold also first can be heading to target 2157.
As we see gold tested and failed yet three times to break the zone around 2180. Therefore it has a higher possibility in short term that gold first will be falling to targets 2157-2147 and or 2126-2115.
According to price action the bearish continuation is not confirmed yet. Also on daily market structure we created a higher low and therefore the bull continuation is also a high probability scenario to expect. Bull scenario If we continue the bull run then we meet resistance at 2170, 2177, 2185, 2195 and 2222 to continue higher towards 2240 and 2268. Bearish...
After better then forecast CPI numbers we saw gold felt into the demand zone around 2150. Some early signs that we maybe in a correction fase but with the heavy demand on gold it also can make his bull run already again. First Short then Long.
Today big news ahead, CPI. As we saw previous CPI, gold corrected nicely to find his bull run again. Bulls still in full control.
Gold has been almost corrected and price is also almost balanced. Time for the Bulls again.
Gold rose today till 2141. Directly it also rejected heavily and price dived into the 2121 zone. Therefore but also because we entered the all time high, we can expect a vieuw scenarios. Last scenario is that price dive into the 2067-2057 zone for its correction only to move up higher again.
As we can see Bulls has taken over full control. Next target 2143.
As we can see bulls has taken control of the market. For 4 days in a row we saw exactly a price action Bull run. With the creation of an new daily, weekly and montly high we can expect a high probability continuation of this bull run. The only hold up or gas up will be at friday 8 march at NFP which will determine the hold up or a gas up.
Can BTC hold is bullish momentum or will it go for the Liquidity Grab?