Hi!
Trend: After a multi-month downtrend (price below SMA100), the 100-day SMA has flattened and turned up, an early sign of regime change from bearish to base-building.
Structure: a Double bottom (Feb–Apr, Jun–Aug) resolved as bullish continuations. The August breakout cleared the 11.000 resistance shelf (prior swing high) on expanding-range candles, constructive for follow-through toward the 14.362 supply zone.
Momentum: RSI printed a lower high against price's higher high near the breakout, flagged as "fake divergence." Divergence appearing mid-impulse, rather than at an extended, mature top, tends to be low-reliability; more likely a momentum reset via consolidation than an imminent reversal. Worth monitoring, not acting on alone.
Levels:
Bottom line: Bullish structural breakout with a supportive SMA trend; a near-term pullback/retest of 11.000 is plausible before continuation. RSI alone doesn't offer a strong reversal signal here.
Trend: After a multi-month downtrend (price below SMA100), the 100-day SMA has flattened and turned up, an early sign of regime change from bearish to base-building.
Structure: a Double bottom (Feb–Apr, Jun–Aug) resolved as bullish continuations. The August breakout cleared the 11.000 resistance shelf (prior swing high) on expanding-range candles, constructive for follow-through toward the 14.362 supply zone.
Momentum: RSI printed a lower high against price's higher high near the breakout, flagged as "fake divergence." Divergence appearing mid-impulse, rather than at an extended, mature top, tends to be low-reliability; more likely a momentum reset via consolidation than an imminent reversal. Worth monitoring, not acting on alone.
Levels:
- Support: 11.000 / 10.538 (breakout retest zone)
- Target: 14.362
- Invalidation: daily close back below 10.538–11.000
Bottom line: Bullish structural breakout with a supportive SMA trend; a near-term pullback/retest of 11.000 is plausible before continuation. RSI alone doesn't offer a strong reversal signal here.
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🟢 Telegram channel: t.me/melikatrader94
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
🔴 Forex channel: t.me/melikatrader94GoldForex
🟢 ADX & DFM channel: t.me/ADXandDFM
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.