The intention to long the gold just like the post yesterday stays the same.
We are supposedly expecting an ABCD pattern near 1290 and that price will continue to climb.
However, the price fell too fast and more than what's needed, yet another formation appears which still favours the bulls - a bullish bat pattern.
The completion of the bat pattern is part of a retracement after a successful double bottom.
The bat pattern is now seen completed at the previously broken rising trendline.
Thus, now would be a good opportunity to buy gold.
We are supposedly expecting an ABCD pattern near 1290 and that price will continue to climb.
However, the price fell too fast and more than what's needed, yet another formation appears which still favours the bulls - a bullish bat pattern.
The completion of the bat pattern is part of a retracement after a successful double bottom.
The bat pattern is now seen completed at the previously broken rising trendline.
Thus, now would be a good opportunity to buy gold.
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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.