TradingFleet

Can the Gold confirm the bullish trend ?

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar

As we can see the upper resistance of this ascending channel is definitely weaker with 2 breakouts than the support line where we can see many touches or pullbacks.

We Have two scenarios which the price break out the upwards and we can enter long upper the resistance channel line or it breaks downward and we can sell.

But in general, I would advice to have a bullish or long trade and the most likely scenario is a bullish continuation.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.