I'm long this one from mid 7s and aiming to ride the trend to next resistance level.
- All the moving averages are supportive
- Price Action is following Demand/Supply patterns
- Volume patterns for up moves are consistence with PA
- RSI is favorable
This monster has moved over 200DMA, 50DMA and 20EMA with some nice consolidation.
- Current Price Action
- pattern and
- Positive RSI
suggests a move higher and first target is that resistance above.
Its good RR in my opinion.
Gold seems to have completed 5 Wave structure and correcting.. I'll go short with break of lower TL of the ending diagonal.. There's Bearish divergence along with EW count to indicate the lost momentum and a correction.