Last Bullish leg for GOLD
With all the divergence in 4hr and 1hr chart, it's likely that GOLD starts its bullish run from here to retest previous top, or even the multi-year top around 1360-1370. This is confirmed with the response from gold miner ETF (GDX/GDXJ) as well. But this might be the last up move for gold this year, so trade with care. I think GOLD is going to revisit 1200 area before the election year.
Note
1hrNote
GDX retesting 200SMA and the trend lineNote
Not bad so far. The daily closing prices for the next few days are important. Let's see!Note
Daily and Weekly closes are not bad, very likely gold printed bottom this week.Trade closed manually
Something is wrong, it seems going to visit previous low.
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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.