GOLD Market direction and open TARGETS
Updated
BULL TARGET 1880, 1891 AND 1906
These Bull targets are open, we are looking for further confirmation on market open. Looking for EMA5 to break 1868 and close above. Price has already challenged this level twice last week. Now we are looking for EMA5 to challenge this level and then break it. EMA5 crossed above MA21 to give us the momentum needed for a stronger challenge. We have signals confirming this move already but EMA5 breaking the GOLD turn here will be our final confirmation.
BEAR TARGETS 1858, 1852, 1845 AND 1832
1858 is in line with MA21 for a touch. If this does not provide immediate support then price will magnetize ma63 at 1852. These levels have all been open due to an EMA5 break on 1852 which left a gap open to 1845. 1845 may be the area of support price needs before resuming the Bull run. However coming so close into this range, if we identify a sell signal it will likely challenge 1832 as that is the benchmark for the volatile movement we had last week. Back testing shows price always comes to benchmark if a resistance challenge in the same range is rejected.
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GoldView
These Bull targets are open, we are looking for further confirmation on market open. Looking for EMA5 to break 1868 and close above. Price has already challenged this level twice last week. Now we are looking for EMA5 to challenge this level and then break it. EMA5 crossed above MA21 to give us the momentum needed for a stronger challenge. We have signals confirming this move already but EMA5 breaking the GOLD turn here will be our final confirmation.
BEAR TARGETS 1858, 1852, 1845 AND 1832
1858 is in line with MA21 for a touch. If this does not provide immediate support then price will magnetize ma63 at 1852. These levels have all been open due to an EMA5 break on 1852 which left a gap open to 1845. 1845 may be the area of support price needs before resuming the Bull run. However coming so close into this range, if we identify a sell signal it will likely challenge 1832 as that is the benchmark for the volatile movement we had last week. Back testing shows price always comes to benchmark if a resistance challenge in the same range is rejected.
Please like, comment and follow us to support our work to share more trading ideas and analysis from our traders.
GoldView
Trade active
First bear target 1858 done.Trade active
EMA5 crossed MA21 confirming 1852 target
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