GOLD update
We are still bullish on o Gold and the higher targets of 1922, 1957 are still open.
The price has broken out of the D1 descending channel.
If we get a D1 candle body close below 1886.00 by end of today, this will be a good indication of a short-term swing high is in place and we can expect some more retracement down to as low as 1875, 1845-50.
Please note this will not change the bullish bias only a healthy retracement. If we see a clear break of market structure on D1 we can assume that the trend has changed.
The price has broken out of the D1 descending channel.
If we get a D1 candle body close below 1886.00 by end of today, this will be a good indication of a short-term swing high is in place and we can expect some more retracement down to as low as 1875, 1845-50.
Please note this will not change the bullish bias only a healthy retracement. If we see a clear break of market structure on D1 we can assume that the trend has changed.
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