Hi guys
I hope you have used the previous analysis correctly and benefited.
In the daily time, below the price, we can see a beautiful downward trendline, that the price has been rejected from this area almost 3 times, and this means that this trendline has enough validity.
After the announcement of the news today and the decrease in the unemployment rate in the United States, gold was able to make a significant move to break this downward trendline and moved almost to the support of 1892. But this trendline appeared stronger, the price returned and the trendline was not broken. Now, if the daily candle closes positive today, we can expect to move up to the next resistances, i.e. 1913, 1922 and 1940.
I hope you have used the previous analysis correctly and benefited.
In the daily time, below the price, we can see a beautiful downward trendline, that the price has been rejected from this area almost 3 times, and this means that this trendline has enough validity.
After the announcement of the news today and the decrease in the unemployment rate in the United States, gold was able to make a significant move to break this downward trendline and moved almost to the support of 1892. But this trendline appeared stronger, the price returned and the trendline was not broken. Now, if the daily candle closes positive today, we can expect to move up to the next resistances, i.e. 1913, 1922 and 1940.
I hope you have made good use of this analysis and have benefited.
Now the signs of price return to high levels have become stronger, a stronger positive candle has been closed and a very nice morning star pattern has formed at the end of the downtrend.
According to the strength of the above signs, everything seems to be bullish in the coming days. After breaking the 1922 level, we can expect 1940 and 1967.