GOLD Thesis
- Weekly: Last weeks candle closed as a hammer after rejection off major level $1450 signalling bulls could be ready to take control of the gold market on higher time-frame.
- Daily: Double bottom has already taken place at $1450 major zone, with Friday candle closing strongly above $1459 4hr zone changing daily momentum to bullish. Next possible target for gold $1479.
- 1hr: Descending trend-line & $1459 was broken with impulse to the upside now waiting for a retest of this level, which is in confluence with 50%-62% Fib level. If level holds then we could see a bullish rally to $1479.