Gold couldn't break below the purple trendline established in 2016 nor could it break below the 0.764 C-wave retracement of an ABC.
Last couple days its made a strong move up over $1300 and $1310 (on average volumes), past peaks where the move was rejected. now it is challenging $1325. Moving past here it should be on its way to challenge $1350 & $1367.
I will be looking to get in on this trend on a pullback to either $1300 or $1310.
Kommentera
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Strong weekly bars, albeit after hitting $1350 gold has backed off right away. its likely going to take a bit of time to break through $1350. I would anticipate a pull back and hopefully I can get in at that time!