Renko supports the fact that gold is stil in an uptrend: keylevel to close the week is at 1240. To have a real confirmation for the next wave we need to see a breakout wich surpasses 1245 wich is very plausible given recent price action.
Advise:
Hold longs for conservative swings, add up on intraday lows for speculative positions.
Advise:
Hold longs for conservative swings, add up on intraday lows for speculative positions.
Commentaire:
Daily chart:
Black lines: daily sup/res
Purple lines: weekly sup/res.
Conservative tp: 1260
Speculative tp: 1290