Gold need a retracement of 1D or 1week for higher target.
Gold broke through 1885 last Friday, showing a signal to target higher.
Since 4H has finished 5 upward moves but 1D only takes the 2nd, a retracement of 1D or even 1week is needed for higher moves.
* 1st support: 1960-1962. 2nd support: 1940-1945.
* 1st resistance: 2000. 2nd resistance: 2015.
* bull & bear boundary: 1910-1915.
Since 4H has finished 5 upward moves but 1D only takes the 2nd, a retracement of 1D or even 1week is needed for higher moves.
* 1st support: 1960-1962. 2nd support: 1940-1945.
* 1st resistance: 2000. 2nd resistance: 2015.
* bull & bear boundary: 1910-1915.
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.