GOLD LONG ANALYSIS
Good day traders ,
I have produced an analysis for those seeking to take swings in Gold. Currently , the descending triangle has been broken with prices at 1806 now. If it holds , the next target is 1816 , fibo 0.618 level with the usual pull backs and eventually reaching 1851 at fibo 1 level.
Looking at RSI , if it breaks the red trendline , then we have strong bullish sentiment and vice versa with the yellow trend line.
So far prices have been respecting the pitchfork , hence providing some guidance for swing traders. If it breaks past line between 1 and 1.618 zone , we will see way higher prices for Gold.
Legal Disclaimer : All ideas are speculative only , trade at your own risk.
I have produced an analysis for those seeking to take swings in Gold. Currently , the descending triangle has been broken with prices at 1806 now. If it holds , the next target is 1816 , fibo 0.618 level with the usual pull backs and eventually reaching 1851 at fibo 1 level.
Looking at RSI , if it breaks the red trendline , then we have strong bullish sentiment and vice versa with the yellow trend line.
So far prices have been respecting the pitchfork , hence providing some guidance for swing traders. If it breaks past line between 1 and 1.618 zone , we will see way higher prices for Gold.
Legal Disclaimer : All ideas are speculative only , trade at your own risk.
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