Analyzing a weekly time frame on Gold I noticed a very peculiar zone of confluence. We see a perfect match between a major rising trend line (connecting higher lows) and 382 retracements of multiple impulse legs.
The underlined green zone gives us a perfect demand area to catch a potential bullish move.
Keep monitoring this zone and look for a confirmation on a daily as a signal.
Will the price respect this zone? What do you think?
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