As mentioned in previous Analysis, support taken from 2370
If Gold sustains above 2450 2500
Short term 2700 could be tested
Longer term 3000 could be tested
Rationale:
Support taken from
1. Fib 0.23 retracement of the rally from 1986 to 2450
2. DEMA 50
Bullish Flag Breakout
If Gold sustains above 2450 2500
Short term 2700 could be tested
Longer term 3000 could be tested
Rationale:
Support taken from
1. Fib 0.23 retracement of the rally from 1986 to 2450
2. DEMA 50
Bullish Flag Breakout
Note
Do Not treat Gold as bearish, unless it starts trading below 2360 2370Note
Anywhere above this zone and Bulls will not giveupNote
XAUUSD Bearishness
If at all Any
Only below 2485 ~ 2490
Else this could be another rally in making..
Preparing for 2600
Although 2440 retest is a fair possibility.
Below 2440, Next Strong Support around 2360 2370.
Can't Rap the Crap all day long..
So Keeping it Simple..
Note
After 2600 2700 3000 Are Medium Abbas longer term targetsNote
Towards 2600 2700Note
2600 done 🎉🎇Note
2530 2500 retest likely if sustains below 2565Note
If 2565 Respected, then Bullishness to continue Note
2565 respected..Note
Towards 2700 2750Note
2700 almost doneNote
ME Escalation calls for More upside.. 2700 2750 quite likely
Note
2700 Done!Note
2750 Done!
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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.