Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Gold is still retesting a major previous weekly structure area which is now still turned support at the $1920 level.
You can also see that Gold is retesting the 61.8% fibonacci retracement level and we are also having bullish weekly moving averages so there is still a decent chance that we will see another rejection towards the upside on Gold.
On the daily timeframe however Gold just broke out of a bearish descending triangle which is always a continuation pattern so market structure is clearly bearish - therefore I am waiting for a break back above the $1940 structure zone and then I do expect another push higher from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Gold is still retesting a major previous weekly structure area which is now still turned support at the $1920 level.
You can also see that Gold is retesting the 61.8% fibonacci retracement level and we are also having bullish weekly moving averages so there is still a decent chance that we will see another rejection towards the upside on Gold.
On the daily timeframe however Gold just broke out of a bearish descending triangle which is always a continuation pattern so market structure is clearly bearish - therefore I am waiting for a break back above the $1940 structure zone and then I do expect another push higher from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
#1 Video Author on @TradingView 🏆
Swing Trader since the Year 2019 💻
Daily Analysis from Monday - Friday 💰
3.2K Traders in Our FREE Community👇
discord.gg/jgdrYXwqyD
Swing Trader since the Year 2019 💻
Daily Analysis from Monday - Friday 💰
3.2K Traders in Our FREE Community👇
discord.gg/jgdrYXwqyD
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
#1 Video Author on @TradingView 🏆
Swing Trader since the Year 2019 💻
Daily Analysis from Monday - Friday 💰
3.2K Traders in Our FREE Community👇
discord.gg/jgdrYXwqyD
Swing Trader since the Year 2019 💻
Daily Analysis from Monday - Friday 💰
3.2K Traders in Our FREE Community👇
discord.gg/jgdrYXwqyD
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.