Will Gold have enough momentum to break through the upper limit of the ascending triangle?
It is still in motive wave 2 of EW and above support level fib retracement 78.6%. It can even fall on 1.321$ without coming in danger.
Possibly it moves sideways and regains momentum.
Buy: after breaking the upper limit of triangle with next aim 1376$ (fib retracement 100%)
Stop: below fib retracement 61.8% (1.279$)
Indicators:
RSI: strong - not overbought
MACD: positive and triggered to top
ADX: positive - but +DI is descending!
It is still in motive wave 2 of EW and above support level fib retracement 78.6%. It can even fall on 1.321$ without coming in danger.
Possibly it moves sideways and regains momentum.
Buy: after breaking the upper limit of triangle with next aim 1376$ (fib retracement 100%)
Stop: below fib retracement 61.8% (1.279$)
Indicators:
RSI: strong - not overbought
MACD: positive and triggered to top
ADX: positive - but +DI is descending!