Nice setup, big picture we are forming a big triangular trend continuation structure.
Shortterm looking for the gap close.
Notice the high volume breakout of the red wedge, and now the blue flag is a strong buy setup.
Blessings to you.
Our preference: sales position below 1215.50 with targets at 1205.00 & 1202.00 in extension.
Alternative scenario: in excess of 1215,50, aim for a continuation of the rise with 1219,00 & 1222,00 in line of sight.
Comment: The RSI is below its neutrality zone of 50%.
GOLD LONG SELL .
Its has been on a down trend for several weeks and despite the retracement. we expect a weekly downtrend since it resisted on the weekly severally as illustrated on chart.
entry price in between PuRPLE line
TP1 ,TP2 given as labelled on chart.
Our preference: position bought above 1272,00 with targets at 1282,50 & 1286,00 in extension.
Alternative scenario: in break of 1272,00, a continuation of the decrease will be envisageable with 1266,00 & 1261,00 in line of sight.
Comment: The RSI is supported by a straight up trend.