GOLD WEEKLY CHART MID/LONG TERM ROUTE MAP

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Hey Everyone,

Please review our new updated weekly chart idea with our unique Goldturn ascending channel.

We are seeing price test the channel floor and finding support for a reactional bounce also just short of the 4462 Goldturn also aligning up with the support zone.

A break below this level will see lower Goldturn open. however, as long as this support levels holds we are likely to see a test of the channel half line and a further break above the half line will open the upper channel ceiling.

As we always state, our unique Goldturns channels tend to offer strong support on the ascending channel half-line or full line for reactional bounces. Currently, we are seeing the full-line providing support, and if this continues to hold, then the half line and upper level is a likely long term target to be tested. A break below the full-line would make it more likely that the lower gap gets tested first.

This is the beauty of our Goldturn channels, which we draw in our unique way, using averages rather than price. This enables us to identify fake-outs and breakouts clearly, as minimal noise in the way our channels are drawn.

We will keep you all updated.

Mr Gold

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