After a bearish shock for gold prices, a new possible bullish move may reveal itself with the currently forming three-bottom pattern.
Stabilization above the EMA-25, as well as a breakout above the level of 1878.67 and the EMA-50 line, are required to ensure the probability of a breakout toward the area of 1916.67-1919.91.
A move below 1859.65, on the other hand, may invalidate the previous bullish hypothesis and lead to a further drop toward the 1833 level.
Stabilization above the EMA-25, as well as a breakout above the level of 1878.67 and the EMA-50 line, are required to ensure the probability of a breakout toward the area of 1916.67-1919.91.
A move below 1859.65, on the other hand, may invalidate the previous bullish hypothesis and lead to a further drop toward the 1833 level.
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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.