Gold - Towards New Highs
Read carefully. Gold is exhibiting Bullish Flag Structure on Daily Chart. Current Price structure is looking Like bearish (Making Lower Highs and Lower Lows) in Lower TF. But to me its consolidating with in range. (Consolidation Range: 2140-2180). Higher TF discloses the clearer picture.
Currently 20 & 50 MA is restricting price movement above 2162-2165 (4H TF). And Trend line is giving resistance at 2167-2170 Region. But Once this is cleared by the price movement (Bullish Flag Breakout Near and after FOMC- June Rate Cut coming nearer) I see a clear Target of 2200-2230-2248 with in 2 Weeks horizon.
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Currently 20 & 50 MA is restricting price movement above 2162-2165 (4H TF). And Trend line is giving resistance at 2167-2170 Region. But Once this is cleared by the price movement (Bullish Flag Breakout Near and after FOMC- June Rate Cut coming nearer) I see a clear Target of 2200-2230-2248 with in 2 Weeks horizon.
How do u see the Analysis. Do Comment
Note
Target Achieved Successfully
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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.