As we have mentioned in our weekly detailed video,Gold is on Rising wedge channel ,last Friday On NFP numbers market respect the 2665 support area and rejected back immediately which have strong signs that market is on 2720 mark!
What possible scenario do we have?
The weekly closing was above 2680 R&S area and its the red line we have,any H4 Candle closes below it, bullish move will be invalid for while and market will be back to 2650-2680 zone.
On the other hand , im expecting market will on bulls side this week technically towards 2720 after the on strong rejection from the previous support of 2664.
Where the Rising channel can do a drop?
As we have history market is moving up however its respecting the previous Resistance.
What possible scenario do we have?
The weekly closing was above 2680 R&S area and its the red line we have,any H4 Candle closes below it, bullish move will be invalid for while and market will be back to 2650-2680 zone.
On the other hand , im expecting market will on bulls side this week technically towards 2720 after the on strong rejection from the previous support of 2664.
Where the Rising channel can do a drop?
As we have history market is moving up however its respecting the previous Resistance.
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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.
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.