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ChartStrategist
Apr 18, 2023 7:33 PM

Gold 4hr TF 

GOLD (US$/OZ)TVC

Description

Currently, my primary focus is on the gold market, and I am patiently awaiting a potential breakout from its current channel. Such a move would provide valuable insights into the future direction of gold prices. However, I am also keeping a close eye on other market indicators, such as gold miners, to gain a more comprehensive understanding of the market conditions. My analysis of these indicators suggests that gold prices may be poised for a downward trend, as gold miners have reached similar percentage gains but are currently trading below expected levels. Therefore, I am closely monitoring the market to determine the best course of action, as I anticipate a possible bearish swing in the gold market. In the event that gold does break out of its current channel, my buying zone would be around 1950.
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