GoldViewFX - MONTHLY CHART LONG TERM GOLD OUTLOOK

Hey Everyone,

Please review our monthly chart update from last week. This is still valid and very much in play and gives us an overall picture of what we are likely to see and why.



LAST WEEKS UPDATE
This is the monthly chart we have been tracking for a few months now, which allowed us to predict and ride the entire Bull run close to its final target zone. Although there's room left above to test the ATH we were well overdue some correctional retracement.

We also have a EMA5 detachment below at 1832. However, 1865 is also a Goldturn support level that may also provide some support.

Historically we have seen the test zone above tested at least 3x before we see price fall below 1865. Therefore, there is a good probability potential for another run up to test the zone above going by historical price action.

- This played out perfectly for the EMA5 detachment we highlighted last week. This detachment on the monthly chart is now complete. Moving through each timeframe allows us to see what price is trying to do on the shorter timeframes and gives a clearer picture overall.

This months closing candle will be an important one, to assess weather price will go back for the test zone challenge or break down into the lower support.


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

GoldViewFX
XAUUSD TOP AUTHOR