GC appears to be heading into a breakout phase with price just about climbing above the S&D zone at the time of this post.
Expect a continuation upwards for a days or two with a nice corrective to retest the S&D zone below. We then will be expecting a continuation upwards to at least the previous highs with potential to continue trading higher thereafter.
It is worth noting however that we are more on the side of this rally being temporary given that Oil prices are expected to continue pushing higher and therefore, will likely drive CAD higher too.
Expect a continuation upwards for a days or two with a nice corrective to retest the S&D zone below. We then will be expecting a continuation upwards to at least the previous highs with potential to continue trading higher thereafter.
It is worth noting however that we are more on the side of this rally being temporary given that Oil prices are expected to continue pushing higher and therefore, will likely drive CAD higher too.