Hello traders.
I remain bullish on gold.
Price is shown that it might visit 1840-1860-1880 area.
Good areas to buy could be Fib retracement levels of 0.5 and 0.618 connecting the most recent Swing Low and Swing High.
However, it can break straight up which means that we should keep an eye in different retest area and draw Fibo again according to updated data.
In my point of view, the price is inside a raising channel and the bottom has recently been checked as dynamic support.
The outcome for price is the surplass of buyers pushing gold higher.
I remain bullish on gold.
Price is shown that it might visit 1840-1860-1880 area.
Good areas to buy could be Fib retracement levels of 0.5 and 0.618 connecting the most recent Swing Low and Swing High.
However, it can break straight up which means that we should keep an eye in different retest area and draw Fibo again according to updated data.
In my point of view, the price is inside a raising channel and the bottom has recently been checked as dynamic support.
The outcome for price is the surplass of buyers pushing gold higher.
Comment:
wait for retest after the breakout