Is there an end to the bullrun? Or longterm bullmarket!
Gold still pushing higher and higher. Is it posible were in a longterm bullrun? See update post montly timefram.
Priceaction wise gold is showing a rising wedge wich can indicate a correction or reversal. Selling the high resistance off this channel can be done but is trickie against the main bullish trend. A confirmed break below this support channel and below support level 2266 might drop gold even more. If the support channel keep respecting then you can enter longs.
Make sure you mange risk 100%. Especially with selling the bullmarket.
Support: 2287, 2277, 2266
Resistance: 2300(Psycological)
Priceaction wise gold is showing a rising wedge wich can indicate a correction or reversal. Selling the high resistance off this channel can be done but is trickie against the main bullish trend. A confirmed break below this support channel and below support level 2266 might drop gold even more. If the support channel keep respecting then you can enter longs.
Make sure you mange risk 100%. Especially with selling the bullmarket.
Support: 2287, 2277, 2266
Resistance: 2300(Psycological)
Comment:
Monthly timeframe:
Comment:
congrats if you followed my anaysis. Gold respected the resistance trend and fell. We got into sells from 2304.
Comment:
Gold went crazy in the last couple hours before market closure. Not sure what the trigger was. 2305 rejected agressive pushed price down. After price retraced bullish again another big selloff came and broke below 2288. My expectations are that the bullrun is over for now. Expecting gold to fall towards posible targets 2276, 2266 and
Gold went crazy in the last couple hours before market closure. Not sure what the trigger was. 2305 rejected agressive pushed price down. After price retraced bullish again another big selloff came and broke below 2288. My expectations are that the bullrun is over for now. Expecting gold to fall towards posible targets 2276, 2266 and
Comment:
Gold fell 200+ pips!!
