GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP

Jun 23Hey Everyone,

Please see update on our mid to longer term weekly chart idea.

Last week we advised that although we saw price break out of the channel, ema5 had created the true channel top resistance and that we also have support at 2310 Goldturn above the channel half line. We also advised that although we have a close below 2310, ema5 remains above 2310 providing the support for a bounce heading towards 2356 for a test.

- This test was completed with a 2356 clean HIT!!!!

The channel half line is a crucial level of support on this chart and as long as ema5 remains above the channel half line, we should be able to continue to buy dips. A break and lock below the channel half line will open the range test for the channel bottom.

The levels within the channel will provide the bounces inline with our plans to buy dips in true level to level fashion using our smaller time-frames. Buying dips allows us to safely manage any swings instead of chasing the bull from the top.

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MR GOLD
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