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