Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold💪
Gold retested the monthly 50% fibonacci retracement level of the last major monthly impulse and is now in confluence with bullish moving averages heading for new all time highs.
Weekly market structure is very clear with Gold retesting the 0.618 fibonacci + previous structure now acting as support + the support of the parallel channel so I simply do expect more weekly bullish movement.
Daily structure is also now back to bullish; there is a chance that we will see a short term daily correction away from the current structure zone but overall I then do expect a break and a move back to the previous highs at the $2060 level.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold💪
Gold retested the monthly 50% fibonacci retracement level of the last major monthly impulse and is now in confluence with bullish moving averages heading for new all time highs.
Weekly market structure is very clear with Gold retesting the 0.618 fibonacci + previous structure now acting as support + the support of the parallel channel so I simply do expect more weekly bullish movement.
Daily structure is also now back to bullish; there is a chance that we will see a short term daily correction away from the current structure zone but overall I then do expect a break and a move back to the previous highs at the $2060 level.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
