The current push has brought gold up above the important 1800 psychological level; however, it seems like there is a small pullback coming on the way as the Greek gods of market try to shake this ambitious undertaker off the Mount Olympus. We're expecting the pullback into the zone of double confluence (diagonal trendline coinciding with the support zone of the previous bottom). As soon as, we hit that purple circle and we confirm that the trend hasn't fully shifted (have to wait for that bottom formation on the smaller timeframe), we will be able to enter the long position from there. For now, let's grab a popcorn and watch it unravel.
P.S it is important to note that tomorrow is pretty much one of the last liquid days of the market for 2022, so.. this might take a hot minute and continue next year.
P.S it is important to note that tomorrow is pretty much one of the last liquid days of the market for 2022, so.. this might take a hot minute and continue next year.