Today is Friday and the last day of the week, we need Gold to hold its support. But A daily break above 1872 coupled with consolidation above downtrend lines is a significant achievement.
In any case Gold has unfinished business at 1900 and 1945 and these two targets will be hit. The question is how and when. In my opinion now that price has broken through...
Hello people, we have had lots of ups and downs with this wicked security.
In this updated chart we see the price stuck below a very tough res. zone.
There is simply no more room to maneuver. We will have a definite direction in two to three days, on way or another.
If gold buyers fail to take back that orange zone they may lose everything and price CAN fall...
It is almost inconceivable that gold can break through this area on the first attempt. So a sell here is logical specially when price touches 1746-1748 zone.
Will it break through? At this time and in the current wave, I dont believe so.
However if it does cross with a strong H4 close we have to seriously consider 1769-1772 as the next target.