As expected Gold made a strong Technical rebound provided by the Weekly #MA50 (the candle is still open of course but this is the reason behind it) and my #1,590.80 break out condition has big chances to be met. The Hourly 4 chart printed an evident W formation and now on a Higher High for the first time since March 9th and the #1,680.70 peak. Even Daily switched back to Neutral which is a good sign for me and is aiming at the #1,595.70 technical Gap fill which is roughly where the #MA50 is. Assuming it takes more than a day to reach this level, then this is also where the Hourly 1 will be (now at #1,545), so it is a good benchmark and first Semi-Target. However don't expect any rise if the Stock market doesn't rise as well. On the other hand, the DX almost filled the February 20th #101.60 gap so any pull back from now on should be adding bullish pressure on Gold.
- 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.