Gold retraced from the upper wedge resistance and found support on the previous swing high (cca. $1.226) and the 61.8% Fib retracement of the previous initial move. The overall uptrend seems well in-tact, especially considering the break above the weekly trendline and the consecutive pullback. Gold could continue its uptrend at current prices.
Today's dollar weakness added to gains in the yellow metal.
Join our Telegram group for more updates on this and other trades -> t.me/CommaFX
Check out our previous Gold analysis, we've anticipated the recent gains.
Today's dollar weakness added to gains in the yellow metal.
Join our Telegram group for more updates on this and other trades -> t.me/CommaFX
Check out our previous Gold analysis, we've anticipated the recent gains.
Comment:
Gold reached the lower wedge support and the 61.8% Fib - great time to enter into a long with a good R/R ratio.
