chartwatchers
Long

GOLD-Daily summary

FX:XAUUSD   Gold/U.S. Dollar
246 1 18
I want post the daily chart because it's very very bullish .
- Today it's the 2nd day when we are bouncing off the pennant's upper trendline .
- We closed near to the daily maximum.
- We closed above th             10 EMA - so the 10 EMA is holding the price
- The last 20 EMA tag was 38 days before (!!!!) - 2months....

It means to me that gold             is breaking out of the consolidation tomorrow. The maximum pullback we will get is around 1265 (I was hoping a pullback to 1260 but that's a dream only) - this pullback will happen in the first 2 hours of trading GMT             0.00 and GMT             01:00. I want to add to my gold             positions so I will choose these hourly candles for adding.

How far can we go? Check my OIL             - De Ja Vu chart. It'S THE SAME PATTERN ...

In an extreme situation we can run 200$ more.... It depends on the dollar.
The minimum target is: 1307
The next one is 1345
After that: 1392
And the final target is around 1440...

I think we are going to rally till mid of next week.
Have a good trading and thank you for support.



Thanks for your helpful advice. I'm waiting for opening my long position ^^
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