GOLD
New forecast
The recent gold price trades are confined within a descending sub-channel that we believe forms a bullish continuation flag pattern as shown in the chart. Therefore, breaching 1984 will activate the positive effect of this pattern and then push the price to head towards our main awaited target at 2000 and 2016, respectively.
Therefore, we continue to favor the upward trend for the coming period, which receives continuous support from the moving average 50, while keeping in mind that consolidation below the 1964 level in the face of positive attempts will put pressure on the price to bounce downwards and head to test the 1947 level mainly ,also it is possible to visit to 1964 and then rise up to breach 1984 .
I prefer to buy when price can breach the resistance line 1984 and target will be 2000 .
The expect range trading for today it will be between resistance line 1984 and support line 1964 until stabilized .
Additionally ,Today News will affect the market .
support line : 1964 , 1947
resistance line : 1984 , 2000
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The recent gold price trades are confined within a descending sub-channel that we believe forms a bullish continuation flag pattern as shown in the chart. Therefore, breaching 1984 will activate the positive effect of this pattern and then push the price to head towards our main awaited target at 2000 and 2016, respectively.
Therefore, we continue to favor the upward trend for the coming period, which receives continuous support from the moving average 50, while keeping in mind that consolidation below the 1964 level in the face of positive attempts will put pressure on the price to bounce downwards and head to test the 1947 level mainly ,also it is possible to visit to 1964 and then rise up to breach 1984 .
I prefer to buy when price can breach the resistance line 1984 and target will be 2000 .
The expect range trading for today it will be between resistance line 1984 and support line 1964 until stabilized .
Additionally ,Today News will affect the market .
support line : 1964 , 1947
resistance line : 1984 , 2000
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached:
GOLD
New forecast
The price perfectly fulfills my last idea and we get about +200 pip and still running .
The price of gold ended yesterday’s trading above the 1977 level and stabilized above it at 1984, confirming the breakthrough and heading towards resuming the expected upward trend in the immediate term, on its way to visiting the 2000 and then 2016 levels as the next main targets.
We note that the price is affected by the bullish flag pattern that was completed after breaching the aforementioned resistance, enhancing the chances of achieving more gains during the coming sessions, supported by the moving average 50, which carries the price from below, noting that breaking 1977 will stop the positive scenario and put the price under negative pressure.
The expect range trading for today it will be between resistance line 2016 and support line 1984 until stabilized .
Additionally ,Today News will affect the market .
support line : 1984 , 1977
resistance line : 2000 , 2016
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
GOLD
New forecast
The price perfectly fulfills my last idea and we get about +200 pip and still running .
The price of gold ended yesterday’s trading above the 1977 level and stabilized above it at 1984, confirming the breakthrough and heading towards resuming the expected upward trend in the immediate term, on its way to visiting the 2000 and then 2016 levels as the next main targets.
We note that the price is affected by the bullish flag pattern that was completed after breaching the aforementioned resistance, enhancing the chances of achieving more gains during the coming sessions, supported by the moving average 50, which carries the price from below, noting that breaking 1977 will stop the positive scenario and put the price under negative pressure.
The expect range trading for today it will be between resistance line 2016 and support line 1984 until stabilized .
Additionally ,Today News will affect the market .
support line : 1984 , 1977
resistance line : 2000 , 2016
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Order cancelled
