Analysing a price action on Gold since March,
I see a couple of reliable bullish signals to consider.
As you can see, for the last 4 month, the market is respecting
a rising trend line as a support.
The last 4 Higher Lows are based on that vertical support.
The last test of a trend line triggered a strong bullish reaction.
The price successfully violated a resistance line of a bullish flag pattern,
where the market was correcting for almost a month.
A strong reaction to a trend line and a breakout of a resistance of the flag
provide 2 strong bullish signals.
I think that the market may grow more soon and reach at least 3430 resistance.
An underlined blue area will be a demand zone where buying orders will most likely accumulate.
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.