All observations on chart.
MULTIPLE CONFIRMATIONS & EXPLANATIONS OF DRAWINGS
As you can see gold bounced tom 38.2% fibonacci level a good level to buy the dip.
19% correction from the top till pre covid levels
Falling channel pattern visible on charts, usually gives good move on the upside.
Double bottom pattern breakout given today.
Price comfortable above 20 moving average & made a new swing high
Overall this is attractive price to enter from long term view.
MULTIPLE CONFIRMATIONS & EXPLANATIONS OF DRAWINGS
As you can see gold bounced tom 38.2% fibonacci level a good level to buy the dip.
19% correction from the top till pre covid levels
Falling channel pattern visible on charts, usually gives good move on the upside.
Double bottom pattern breakout given today.
Price comfortable above 20 moving average & made a new swing high
Overall this is attractive price to enter from long term view.
Comment:
On daily timeframe, there's breakouts of falling channel.