FX_IDC:XAUUSD GOLD / US DOLLAR
I would like to keep this post strictly Technical because cannot be debated the way investors debate Gold as an investment from a fundamental perspective. There are numerous technical indications that Gold will rally. First would be trend resistance from the 2/1 Level of the Fan along with the recent bounce off the ~$1050 . The 2/1 is based on the highs of the 15 year uptrend Gold has experienced. The next indication would be the completion of the D leg of the . Fibonacci speed resistance fan offers no significant resistance levels within close proximity. Finally Divergence gives us the final long signal. As always if this TA helped you please leave a like and comment your thoughts. Happy Trading!
@papeeeboy, Thank you!