Gold MAY dip to 2470 before its next big move up – stay alert!
Upon further review, it appears gold is set to dip before making its next move up. After breaking below the 2491-2494 order block, it's likely gold will tap into the 1H imbalance, which could drive prices lower before a potential reversal. While some consolidation might occur, the short-term outlook suggests a move down toward the 2470 level before any bullish momentum returns.
However, if gold breaks past the imbalance, we may see it test the previously failed 2505-2509 order block and continue higher. With a weakening dollar, there's a possibility gold could push beyond its all-time highs, fueling a strong bullish breakout.
However, if gold breaks past the imbalance, we may see it test the previously failed 2505-2509 order block and continue higher. With a weakening dollar, there's a possibility gold could push beyond its all-time highs, fueling a strong bullish breakout.
Note
Perfectly predicted.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.