If you checked my previous posts, I pointed out 2016 level as strong support and 2030-40 level as strong resistance. However, it appears that gold is aiming for higher prices and is trading at the moment outside of the descending channel and close to the 2040 resistance level. A break above it will open doors for more upside movement.
Kommentera:
Let's see if this is a proper breakout...
Kommentera:
Not quite ready to take off yet... It's best to wait for clear price action before entering the market.
Kommentera:
Stay away from this mess until there's a clean price action. Sometimes it's better to not trade at all.
Kommentera:
Looks like it was a 'buy the dip' kinda situation. Let's see if resistance levels will be broken this time around...
Kommentera:
One resistance down... two to go
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What a mess! lol