Outer Perspective (Monthly Chart)
Half way through the month of May and Gold is climbing seeing highs not seen since November 2012. Hopefully momentum and world dynamics in its favour to test levels depicted on the left hand side of the chart and breaks the wicks of 1795 and above.
Area of Interest
Looking to the highs. Gold is placed well into the close to open on Monday with a nice weekly candle. Buyers will see this fresh air on the charts and price levels having confidence. A test of the inner lows trend Line could be retested, so watch for bears playing here. Buyers will need to hold these levels steady. If highs are broken it tells you a lot about the economic sentiment worldwide at present....
Have a glorious weekend all.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 1721.336
2nd Support Zone: 1702.869
3rd Support Zone: 1673.126
Resistance Levels:
1st Resistance Zone: 1753.979
2nd Resistance Zone: 1783.75
3rd Resistance Zone: 1814.26
Price Level Consideration
All Time High Half Way Point: 960.480
Prominent High: NOW
Prominent Low: 1043.409
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: BULLISH NOW
🐻 Bearish below: 1451.718
Comparative against Silver & Platinum
Half way through the month of May and Gold is climbing seeing highs not seen since November 2012. Hopefully momentum and world dynamics in its favour to test levels depicted on the left hand side of the chart and breaks the wicks of 1795 and above.
Area of Interest
Looking to the highs. Gold is placed well into the close to open on Monday with a nice weekly candle. Buyers will see this fresh air on the charts and price levels having confidence. A test of the inner lows trend Line could be retested, so watch for bears playing here. Buyers will need to hold these levels steady. If highs are broken it tells you a lot about the economic sentiment worldwide at present....
Have a glorious weekend all.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 1721.336
2nd Support Zone: 1702.869
3rd Support Zone: 1673.126
Resistance Levels:
1st Resistance Zone: 1753.979
2nd Resistance Zone: 1783.75
3rd Resistance Zone: 1814.26
Price Level Consideration
All Time High Half Way Point: 960.480
Prominent High: NOW
Prominent Low: 1043.409
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: BULLISH NOW
🐻 Bearish below: 1451.718
Comparative against Silver & Platinum
