New bullish movement coming on GOLD (GC) by ThinkingAntsOk
Use this as a guide to develop your view of the situation:
Main items we can see on the chart:
a)We should Focus on the "Major Support Resistance Zone."
b)Take a look at how we can use that support resistance zone as a clear divider for "The price above or below it."
c)After the price testing the zone as a resistance we saw a breakout with a bullish movement
d)Currently, we can observe that the price tested 3 times the zone as a support
e)We can conclude that we are in a strong area and we can see 2 corrective structures (yellow lines)
f)Our Analysis is that if the price breaks above 1750.00 we can expect a bullish movement towards the two Fibo extensions
g)We will trade this analysis and our TARGET will be 1895.00
Main items we can see on the chart:
a)We should Focus on the "Major Support Resistance Zone."
b)Take a look at how we can use that support resistance zone as a clear divider for "The price above or below it."
c)After the price testing the zone as a resistance we saw a breakout with a bullish movement
d)Currently, we can observe that the price tested 3 times the zone as a support
e)We can conclude that we are in a strong area and we can see 2 corrective structures (yellow lines)
f)Our Analysis is that if the price breaks above 1750.00 we can expect a bullish movement towards the two Fibo extensions
g)We will trade this analysis and our TARGET will be 1895.00
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