**This is an update to my original idea published on July 6th
TECHNICALS:
1. - Possible bull flag pattern forming on hourly charts - Continuation pattern - Previous bullish breakout of descending channel gives bullish bias to the pattern
2. - 1260 and 1250 Psychological levels acting as a resistance/support zone the possible Bull Flag pattern is forming within
3. - Price now broken bullish out of Bull Flag pattern - Waiting for a retest of either trend-line confluence or 1260 Psychological level
FUNDAMENTALS:
- Geopolitical tensions at the moment are proving very negative for USD including: - The North Korea tensions - Tarriffs
Appreciate any thoughts, comments.
Thanks,
James
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- Gold is now at the intersection of 2 trendlines as well as the 1260 pyschological level - Perfect place to go long in my eyes
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Nice bullish rejection candle with long lower wick forming exactly on the trendline intersect