WITH TESTING THE 0.618 RETRACEMENT LEVELS AT AROUND 1681 LEVELS
GOLD IS READY FOR NEW HIGHS AFTER BREAKING OUT OF A DESCENDING TRIANGLE.
WITH RSI ALSO AT BREAKOUT ZONE ABOVE 75 AND RISING INFLATION FEARS DO WE SEE 2182$ ON CARDS?
For short term gold can be bearish. My target for short term is $1700. 200MA is also trading above the current price.
Trade at your own risk, I am not a professional analyst. Posting this only for educational purposes!!
as we can see the chart here candles create a flag shape in 1hr chart after a some time during the todays news that chart create another pole of our flag each poles is near about same lenght so 2nd pole also create huge movement. so if our analysis works its make huge movements so be prepare your self.
gold went more messier last month and now we are almost good for the up wave to come. Before the up wave we can see the 1740 level once more and this is where you should get into buy and personally i would like to hold a small lot size till 1900 level.
all we need is a confirmation for the buy setup and that may happen this week