When will the bullrun stop?
Updated
What can we expect for gold this week. After the break off ATH sitting around 2150. GOld kept growing and growing up to 2195. There were almost no proper pullback in support zones. Sellers got wiped out very fast because off this.
GOld is moving in a bullish channel atm. A breakout below can trigger a bearish correction. But all depends on were the breakout comes. Priceaction is key.
2200 is psycological support wich can be tapped into by buyers. Also look at the Daily view wich show a resistance trendline wich already got tested. It is posible that this resistance will stop the endless bullrun for once and the fall for gold will finaly come. Almost all timeframes show Divergen wich indicates bulls run out off breath.
So they say follow the trend. THe trend is your friend. So at proper support levels we can go long in the market. But if we tap into the trend resitance, whe should low risk try to short the market.
All the given arrows on the chart is not a signal! it's the posible movement for gold. Proper analysis is always on higher timeframe charts. entree's on lower timeframe(intraday/swing)
Resistance: 2200
Support: 2064, 2050, 2120
GOld is moving in a bullish channel atm. A breakout below can trigger a bearish correction. But all depends on were the breakout comes. Priceaction is key.
2200 is psycological support wich can be tapped into by buyers. Also look at the Daily view wich show a resistance trendline wich already got tested. It is posible that this resistance will stop the endless bullrun for once and the fall for gold will finaly come. Almost all timeframes show Divergen wich indicates bulls run out off breath.
So they say follow the trend. THe trend is your friend. So at proper support levels we can go long in the market. But if we tap into the trend resitance, whe should low risk try to short the market.
All the given arrows on the chart is not a signal! it's the posible movement for gold. Proper analysis is always on higher timeframe charts. entree's on lower timeframe(intraday/swing)
Resistance: 2200
Support: 2064, 2050, 2120
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