Gold is on a sustainable uptrend after holding the 1,780 Support following my buy update two weeks ago:
This time I am putting things on a wider perspective and besides the two small Channel Up patterns, I've displayed the wider one that started with the August 09 2021 market bottom. As previously mentioned, the short-term target is 1875 (just below the 1877.50 Resistance and the 2.0 Fibonacci extension). When that broke during the previous short-term Channel Up, Gold reached both the 2.5 and 3.0 Fib extensions. Technically those are realistic long-term targets if the price breaks above the 1877.50 Resistance.
P.S. Always keep in mind the multi-month outlook on the 1W time-frame:
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
This time I am putting things on a wider perspective and besides the two small Channel Up patterns, I've displayed the wider one that started with the August 09 2021 market bottom. As previously mentioned, the short-term target is 1875 (just below the 1877.50 Resistance and the 2.0 Fibonacci extension). When that broke during the previous short-term Channel Up, Gold reached both the 2.5 and 3.0 Fib extensions. Technically those are realistic long-term targets if the price breaks above the 1877.50 Resistance.
P.S. Always keep in mind the multi-month outlook on the 1W time-frame:
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.