In a couple hours we will have montly candle closure. GOld is forming new grounds. If we look at the montly timeframe, notice that al the previous montly candles closed below 1993. This will be the first time a montly candle closes above! This indicates strong support will create around that level
SO what does this mean, what is next for gold?
Today 2050 was the zone i adviced to short the market. Sellers will try bring the market down before montly candle closes. From 2050 gold fell as low as 2030(200pips) My view is 100% bullish. After a correction the next bull wave will start. I am aiming around 2022 zone to go long or 2005 zone. With targets 2048 and 2067(around ATH). We can expect a good rejection around ATH like 3 times in the past, but this time i think it will be different rejection. Not as powerfull as before. In the long run 2070 will break and gold will move in a complete new area wich has never been seen before.
In the past we had 3 times testing the ATH zone off approx 2070(tripple top) In the near future we will see new ath 2100+
*The given long posititions are indications not signals.
Resistance: 2050, 2070(ATH)
Support: 2030, 2022, 2005, 1992
SO what does this mean, what is next for gold?
Today 2050 was the zone i adviced to short the market. Sellers will try bring the market down before montly candle closes. From 2050 gold fell as low as 2030(200pips) My view is 100% bullish. After a correction the next bull wave will start. I am aiming around 2022 zone to go long or 2005 zone. With targets 2048 and 2067(around ATH). We can expect a good rejection around ATH like 3 times in the past, but this time i think it will be different rejection. Not as powerfull as before. In the long run 2070 will break and gold will move in a complete new area wich has never been seen before.
In the past we had 3 times testing the ATH zone off approx 2070(tripple top) In the near future we will see new ath 2100+
*The given long posititions are indications not signals.
Resistance: 2050, 2070(ATH)
Support: 2030, 2022, 2005, 1992
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Montly overview:
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H1 showing a bullish flag pattern. Need to follow priceaction for posible early long setup