At the same time the is on a divergence, a formation which has been actually on Gold in recent months/ years. In fact the current sequence is very similar to the June-July 2019 Channel Up which also being on an divergence, eventually broke upwards to add a +11% rise. The even topped as well as bottomed on the same (symmetrical) Resistance/ respectively.
Assuming the same parameters are replicated, and once the 1,610 Resistance breaks, we expect a rise towards 1,680 - 1,700.
Our latest trade on Gold:
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