A New Bullish Move for Gold with the Three-bottom Being Formed?
After a bearish shock for gold prices, a new possible bullish move may reveal itself with the currently forming three-bottom pattern.
Stabilization above the EMA-25, as well as a breakout above the level of 1878.67 and the EMA-50 line, are required to ensure the probability of a breakout toward the area of 1916.67-1919.91.
A move below 1859.65, on the other hand, may invalidate the previous bullish hypothesis and lead to a further drop toward the 1833 level.
Stabilization above the EMA-25, as well as a breakout above the level of 1878.67 and the EMA-50 line, are required to ensure the probability of a breakout toward the area of 1916.67-1919.91.
A move below 1859.65, on the other hand, may invalidate the previous bullish hypothesis and lead to a further drop toward the 1833 level.
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