Gold was in a strong Downtrend, shown by the red Trendline on the Daily chart.
Below the Trendline was a significant bullish Divergence of Price vs. CCI - and the Trendline was broken yesterday.
MACD gives us a confirmation of this bullish signal: It looks like MACD is about to cross the Signal-line bottom-up.
On the Weekly chart, we see that Price already bounced off the long-term support and we do see a strong bullish Divergence too on that Timeframe.
Profit Target is the yet untouched monthly Pivot at 1270
Below the Trendline was a significant bullish Divergence of Price vs. CCI - and the Trendline was broken yesterday.
MACD gives us a confirmation of this bullish signal: It looks like MACD is about to cross the Signal-line bottom-up.
On the Weekly chart, we see that Price already bounced off the long-term support and we do see a strong bullish Divergence too on that Timeframe.
Profit Target is the yet untouched monthly Pivot at 1270
Trade active
Gold is rising as predicted - price is above 1263 - getting closer to the profit target
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⚡ ProDivergence buy.stripe.com/3cs14e15h6FiaBy6oo
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
⚡ ProTrend buy.stripe.com/4gweV49BN5Be4da8wx
⚡ GET THE CCIDivergence STUDY FOR FREE: bit.ly/CCIDivFree
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.