gold market strategic outlook bulls will target 2500 usd

Hello traders, today let's review a higher tf gold price chart.
Noteworthy compression into expanding triangle setup
in progress on 4days/candle price chart. Normally, this
is a bullish continuation pattern, since previously we
were in strong uptrend.

So overall, strong bull run in progress,
and the bear scenario was recently invalidated after heavy
reversal off the double bottom formation near 1625 USD.\
Heavy resistance overhead at 2 000 USD will likely provide
a pullback opportunity for the bulls, however this resistance
was tested twice already, so final re-test and then expect
resistance to break.

Based on measured move projection, bulls will target 2500 USD,
which is 40% gains setup after the pullback (entry near 1700/1740 USD).
Bulls should remain patient and not chase the current move,
short-term traders can focus on buying dips targeting 2000 USD.

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Yorum:

gold is flying hard today wow

Yorum:

ukoil 8h chart broke down 15% correction warning

Yorum:

trading at 1940 usd already.
blue sky until 2000 usd.

Yorum:

we almost hit 2000 usd already