DeGRAM | GOLD bullish momentum

GOLD is currently trading in an ascending channel, making higher highs.

It broke and closed above the strong resistance level which is 38.2% fibo retracment level as well.

The market is currently consolidating following the bullish move.

We anticipate a 38.2% pullback to the support level and a trend continuation potentially making new high.


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Comment:

GOLD is near the upper boundary of the ascending channel.

The chart broke out of the downtrend between the trend lines after leaving the demand zone.

We expect the growth to continue.

Comment:

GOLD is moving in an ascending channel.

The chart has reached the support level coinciding with the 62% retracement level of the last bullish impulse.

The price touched the lower boundary of the channel.

The descending structure has been broken.

We expect the rebound to continue.

Comment:

GOLD is trading above the ascending channel.

The chart is forming an ascending structure.

The price has broken through the dynamic resistance.

We expect the rebound from the support, which coincides with the 62% retracement level of the last bullish impulse.