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BullBearMkt
Dec 13, 2020 6:35 PM

Gold Keeps Testing Support At 1823, What Next? Long

GoldOANDA

Description

Gold has tested support at 1823 several times on the daily and each time, price has been rejected. With the last 2 trading days candlestick showing indecision, the question now is where will price lead to? Daily corrective structure is still showing bullish wedge with possibility of a WXY structure, a re-test of rejection candle below 1800 (dotted blue lines) is a high possibility, however, if next candlestick ended in a strong bull, then gold might likely continue to rally up to re-test 1940 level

N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades

Comments
meysam4154
r u sure Y is finished?
BullBearMkt
@meysam4154, iF it's a simple corrections, then there is high probability that Y is finished, however, price could re-test the low as provided by the the dotted lines
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