Gold has created a very steady Channel Up on 4H (RSI = 53.232, MACD = 2.320, Highs/Lows = 0.0000, B/BP = 0.19010) following a break out from the previous 0.618 Fibonacci pattern as we pointed out here two weeks ago:
The current price action has two support levels (1,311 - 1,312 and 1,308). The 0.500 - 0.618 Fibonacci retracement levels on 1D can be even considered as a Support Zone on their own as Gold has resumed completely resumed the upside on 1D (all indicators bullish RSI = 55.368, MACD = 1.410, Highs/Lows = 2.7457, ADX = 42.771) for the first time since late February.
We remain long with our targets intact (TP = 1,330 with 1,350 as the extension).
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The current price action has two support levels (1,311 - 1,312 and 1,308). The 0.500 - 0.618 Fibonacci retracement levels on 1D can be even considered as a Support Zone on their own as Gold has resumed completely resumed the upside on 1D (all indicators bullish RSI = 55.368, MACD = 1.410, Highs/Lows = 2.7457, ADX = 42.771) for the first time since late February.
We remain long with our targets intact (TP = 1,330 with 1,350 as the extension).
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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www.investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
