Bullish clues:
- Price is above the 200 exponential moving average
- Price rebound on the 20 exponential moving average, which have a role of support
- Bullish channel since 8th of April, 2021
- Hidden bullish divergence on the Relative Strength Index (RSI)
- RSI > 50
- Ascending triangle
- On Daily timeframe, the bearish channel was broken at the top and a pullback was made on the bearish oblique resistance of the bearish channel, which became support
The price of US Gold form an ascending triangle chartist pattern. If the price respects this chartist pattern, it could break the resistance at 1,887 USD and reach the level of 1,910 USD, which is almost an historical high (monthly resistance at 1,920 USD).
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Price is above the 200 exponential moving average
- Price rebound on the 20 exponential moving average, which have a role of support
- Bullish channel since 8th of April, 2021
- Hidden bullish divergence on the Relative Strength Index (RSI)
- RSI > 50
- Ascending triangle
- On Daily timeframe, the bearish channel was broken at the top and a pullback was made on the bearish oblique resistance of the bearish channel, which became support
The price of US Gold form an ascending triangle chartist pattern. If the price respects this chartist pattern, it could break the resistance at 1,887 USD and reach the level of 1,910 USD, which is almost an historical high (monthly resistance at 1,920 USD).
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Trade closed: target reached:
First target at 1,910 USD reached! Pay attention to the Gold, it could go down now