Gold - long trade in sight with favorable Ichimoku configuration

Ichimoku indicates we are on the correct side for buying gold. Only blocking thing are these R/S that were observed in autumn 2015. They need to be broken first before issuing a long entry. First TP could be at 1128 which was a significant level of the Senkou Span B a few months ago, next TP is 1137 which was another cloud level.

Analysis on Renko side indicates the main PA oscillations are bound within a well-defined channel. Some inner trends can be seen and it would not be surprising to see them involved in sideway-moving price.


Hope you enjoy, cheers.