As from August 2020 Gold was in a strong downtrend, technically. The struggle continued for almost a year, until in June 2021 where it was locked up in a consolidation state. The consolidation continued until in November 2021 where we saw a strong bullish impulse that pushed price up, breaking the consolidation phase and breaking above the downtrend trend line. Bulls could first target 1900.00 if 1834.00 becomes resistance, if possible they will target 1958.00. On the other hand, if bears push price far down 1834.00 then Gold will remain vulnerable to additional downside momentum.
We should carefully monitor price this week. If any bullish confirmations are seen, long orders will be opened, if none we shall do without.
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We should carefully monitor price this week. If any bullish confirmations are seen, long orders will be opened, if none we shall do without.
Please support this idea with likes.
