Hello friends. today i'd like to analyze gold in daily and 4H charts. lets take a look in daily timeframe we saw a breakout from an old decending channel. this is the first positive point for bull run according to TA. The price record 3 BGD candles in recent week and this is the second + point. now price reach a resistance level in 1770 and 38.2% fibonacci level. but lets take a look at 4H timeframe for more details:
we see a strong support level that show Buyers are Stronger than Sellers. and in 1770 level we see some strong candle patterns such as Bullish engulf and Hammer. so i think the price can reach 200MA and 1800 resistance level easily like the green path i darw. and after that we will check condition and analyze the next run.
thank you for your attention,please share me your opinion in cooments do you think so???