Last week we identified a weighted Goldturn at 1622, which was open for target, and was hit perfectly. We also expected this level to act as support, which also played out as we expected. We took advantage of this and used our smaller timeframes to take buys from support and exit safely before rejection using Goldturns on our shorter timeframes.
This zone is a strong support structure for the weekly setup, and should this hold, we will see the bulls make a clean run to 1710 to test the upper structure. However, we are seeing EMA5 challenge MA200, a cross here will see another challenge to 1622. A break below the support structure 1622 - 1659 will open range down to 1504.
As always, we will keep you all updated with any changes to our plans throughout the week. Please don't forget to like, comment and follow to support us, we really appreciate it!