GoldViewFX - DAILY CHART UPDATE

Hey Everyone,

This is our DAILY chart setup we have been tracking.

As we stated last week price has been respecting this channel for a while, and now we are seeing price test a strong level of support. 1641 and now 1739 Goldturns are both within the support structure.

We stated that Daily chart EMA5 cross and lock below this level will open the 1602 AXIS and continue in line with the channel. However, we also highlighted a very important point based on our experience and back testing. We stated that once a channel is respected for a while, it is these levels of support structure that provide the rejection needed to break out of the channel. Should EMA5 fail to cross below this support structure, we would see price head to challenge the channel top and potentially breakout for the Bullish TARGET. - We are seeing this play out exactly like we analysed!!!

1703 is our DAILY chart mid-term Bullish target. However, we would like to see EMA5 cross the channel top to confirm the breakout, or we will potentially see the price head back into the channel.

As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
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