From a monthly perspective, Gold has recently tested a monthly demand and take profit zone near $1610. We as traders should expect a weekly break of structure in this area so that a monthly bullish candle forms as a result.
Looking at price action, we can see gold has made a monthly impulse to the downside for about 6 months. Price looks to be exhausted at current levels, and I expect movement towards the upside near $1790 in about 1-2 months.
Looking at price action, we can see gold has made a monthly impulse to the downside for about 6 months. Price looks to be exhausted at current levels, and I expect movement towards the upside near $1790 in about 1-2 months.