GOLD - UPDATE: Bull flag broken + Retested, go long!
- Gold has both broken out to the upside as well as retested its bull flag continuation pattern
- Price would now need to break the important 1225 resistance region to confirm further upwards momentum to come
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- Price would now need to break the important 1225 resistance region to confirm further upwards momentum to come
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
Comment:
- Price has now tested the 1225 region twice without a strong follow through to the upside
- We could see a slight retracement back down today as we are in fairly oversold territory on the 1h + below timeframes
- Expecting price to drop back into the 1217 support region if so
- Could equally see a break of the 1225 level so keep an eye on this level
- We could see a slight retracement back down today as we are in fairly oversold territory on the 1h + below timeframes
- Expecting price to drop back into the 1217 support region if so
- Could equally see a break of the 1225 level so keep an eye on this level
- This is the mentioned resistance that would need to be broken to continue higher