Gold is now trading in a nice consolidation above the support line on the daily.
Also, there is a triangle that is a flag too, and the general uptrend of the last two years adds bullish momentum to the current situation.
All looks long, with the first target being 1800 obviously. A very strong level on the monthly chart.
If the current momentum persists, there is going to be a breakout up to 1900-1950 and the retest of the 1800 support line.
This is a mid term analysis for the next couple of months.
However, if there is to be a strong move up, I would be surprised if the market makers would not do a short squeeze to collect more liquidity.
I will post a more long term view on gold later this day, so subscribe not to miss it!
Also, guys, like to support the channel! I really appreciate every like and every opinion in the comments.
Also, there is a triangle that is a flag too, and the general uptrend of the last two years adds bullish momentum to the current situation.
All looks long, with the first target being 1800 obviously. A very strong level on the monthly chart.
If the current momentum persists, there is going to be a breakout up to 1900-1950 and the retest of the 1800 support line.
This is a mid term analysis for the next couple of months.
However, if there is to be a strong move up, I would be surprised if the market makers would not do a short squeeze to collect more liquidity.
I will post a more long term view on gold later this day, so subscribe not to miss it!
Also, guys, like to support the channel! I really appreciate every like and every opinion in the comments.
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