Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that just a couple of weeks ago Gold perfectly broke out of a massive weekly bullish flag pattern which is now pointing towards more continuation towards the upside.
However you can also see that Gold is currently retesting and already rejecting the previous all-time-high at the $2070 level, weekly market structure and moving averages are still bullish though, so I still think there is a chance that we will create new highs on Gold over the next couple of weeks.
On the daily timeframe you can see that Gold is once again retesting previous daily support at the $2000 level, we also didn't break below the extremely obvious bullish trendline so from a daily perspective everything is still looking bullish and I do expect more continuation towards the upside from the current levels.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that just a couple of weeks ago Gold perfectly broke out of a massive weekly bullish flag pattern which is now pointing towards more continuation towards the upside.
However you can also see that Gold is currently retesting and already rejecting the previous all-time-high at the $2070 level, weekly market structure and moving averages are still bullish though, so I still think there is a chance that we will create new highs on Gold over the next couple of weeks.
On the daily timeframe you can see that Gold is once again retesting previous daily support at the $2000 level, we also didn't break below the extremely obvious bullish trendline so from a daily perspective everything is still looking bullish and I do expect more continuation towards the upside from the current levels.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
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Keep your long term vision.
www.basictrading.net/elite-program
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Keep your long term vision.