Productive day for both Buyers and Sellers as the Double Bottom on Daily chart Support rejected further downtrend and as my #1,530.70 break out point was crossed, Gold made it to #1,540.70 almost (Spot prices). The Bullish reaction is due to the Higher Low trend line that started with last Friday's #1,467.70 Low. This is not the most important Support level though, it is the Hourly 1 chart #1,480.70. As long as Gold is above it the #1,550.70 Resistance will be continuously tested but below it, the goal is the Hourly 4 #MA200 at #1,420.70. Do not trade this without break out points, the times are very volatile. I am expecting Daily chart #1,590.70 Gap fill and #1,620.70 in extension. As I noted, Gold is surely correlated with Stocks again, but this time Diagonally (When Stocks are rising, Gold should follow). DX was rejected on Resistance which will add Bullish pressure on Gold. Bonds are on a Hourly 1 rebound too so everything is set for aggressive Bullish #1,590.70 Gap fill. I engaged lower volumes so I can sustain big swings against my Position, will add more Buys once my Bullish point is crossed.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) as well as #1 on #1 mentorship.
- Trading Gold since #2012'.
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.