GoldViewFX - 1H CHART UPDATED LEVELS & TARGETS
Hey Everyone,
Please see our updated 1H chart Goldturn levels and targets.
Price closed above 1982 Goldturn on Friday leaving a candle body close gap to 2006 Goldturn. However, we will like to see EMA5 cross and lock above 1982 to strengthen confirmation of the target.
Price is challenging a resistance structure so we may see some reaction here and therefore highlighted a potential retracement zone. If we see further Bullish momentum then we would look for EMA5 cross and lock above 2006 to open targets towards the upper structure.
We will continue with our plans to buy dips to avoid swings in this volatile range.
A word of caution here. As some of you may have observed, when global banking stocks fell sharply after the recent SVB collapse, investors fled to gold as a safe haven. The only scenario where gold would also tank in a financial meltdown is if we see another market crash like the one in 2020 at the height of the Covid pandemic. Gold also crashed in March of that year only because investors were taking profit and rolling out of their gold positions to meet margin calls and offset losses elsewhere. Our advice is to remain with the bull direction and buy from value zone dips.
BULLISH TARGETS
2006
EMA5 CROSS AND LOCK ABOVE 2006 WILL OPEN
2029
2050
BEARISH TARGETS
1982
1955
EMA5 CROSS AND LOCK BELOW 1955 WILL OPEN 1938, 1928, 1915 AND 1907
SWING RANGE
1915 - 1907
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Please see our updated 1H chart Goldturn levels and targets.
Price closed above 1982 Goldturn on Friday leaving a candle body close gap to 2006 Goldturn. However, we will like to see EMA5 cross and lock above 1982 to strengthen confirmation of the target.
Price is challenging a resistance structure so we may see some reaction here and therefore highlighted a potential retracement zone. If we see further Bullish momentum then we would look for EMA5 cross and lock above 2006 to open targets towards the upper structure.
We will continue with our plans to buy dips to avoid swings in this volatile range.
A word of caution here. As some of you may have observed, when global banking stocks fell sharply after the recent SVB collapse, investors fled to gold as a safe haven. The only scenario where gold would also tank in a financial meltdown is if we see another market crash like the one in 2020 at the height of the Covid pandemic. Gold also crashed in March of that year only because investors were taking profit and rolling out of their gold positions to meet margin calls and offset losses elsewhere. Our advice is to remain with the bull direction and buy from value zone dips.
BULLISH TARGETS
2006
EMA5 CROSS AND LOCK ABOVE 2006 WILL OPEN
2029
2050
BEARISH TARGETS
1982
1955
EMA5 CROSS AND LOCK BELOW 1955 WILL OPEN 1938, 1928, 1915 AND 1907
SWING RANGE
1915 - 1907
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
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