Hello Traders, welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Gold is having very strong momentum towards the upside, just the past 3 weeks the market is up about 10% which is quite a strong move for an asset like Gold. You can also see that we are currently retesting a previous weekly resistance area from which we could see a short term rejection towards the downside, but ultimately I do expect a break above the zone and then a retest of the previous all-time-highs at around the $2100 area.
On the daily timeframe you can see that Gold already perfectly rejected the previous weekly resistance area so I am now just waiting for a break above the zone and a retest before I think we are ready for the next push towards the upside, heading for new all-time-highs.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset: