Daily Analysis of GOLD ( XAU/USD Futures) by ThinkingAntsOk
Use this as a guide to develop your view of the chart.
Main items we can see:
a)We have a clear Weekly support resistance zone that worked as a resistance for a long time before was broken with a bullish movement
b)Now item a) is working as a support
c)On the Support, we can see a Triangle Pattern that is now completed and close to the breakout
d)Our next target for the coming bullish movement is 1900
e)If the price goes below 1663, we will consider this analysis as invalid, and the next target for the bearish movement will be 1515
Main items we can see:
a)We have a clear Weekly support resistance zone that worked as a resistance for a long time before was broken with a bullish movement
b)Now item a) is working as a support
c)On the Support, we can see a Triangle Pattern that is now completed and close to the breakout
d)Our next target for the coming bullish movement is 1900
e)If the price goes below 1663, we will consider this analysis as invalid, and the next target for the bearish movement will be 1515