Gold could be on the way for a retest
Gold was at its highest in Aug 2020 and started a downward channel.
Gold did two retests at $1960 and failed. Price fell up to $1676 until it finds a strong support level.
For the first time in 7 months, Gold shows us a double bottom pattern in the daily chart. The price did not close below the bullish support line coming from 2019-2020.
If bullish support holds up again Gold could go up to $1825.
Gold would not be generally bullish until it breaks both resistance levels at horizontal $1776 and channel down $1825.
In short term, Gold would be bullish within the channel.
This is just an idea, not a financial advice. Do your own research.
Gold did two retests at $1960 and failed. Price fell up to $1676 until it finds a strong support level.
For the first time in 7 months, Gold shows us a double bottom pattern in the daily chart. The price did not close below the bullish support line coming from 2019-2020.
If bullish support holds up again Gold could go up to $1825.
Gold would not be generally bullish until it breaks both resistance levels at horizontal $1776 and channel down $1825.
In short term, Gold would be bullish within the channel.
This is just an idea, not a financial advice. Do your own research.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.