Bearish continuation or trap?
After the long bullish gold market gold tapped out around 2400 with a tripple top(H4). Gold managed to break below the neckline and a fall off gold happended after the retest off the bullish channel.
Currently were moving in a smaller bullish channel wich cam from a bearish fall. Expecting bulls to weaken this week and another fall in gold might happen. If gold manage to break above 2365 again the sentiment will change and bulls will take over the goldmarket again.
Bearish midterm target lies around 2305. While bullish target might be 2400 again.
Resistance: 2344, 2352, 2364
Support: 2330, 2313, 2305
Currently were moving in a smaller bullish channel wich cam from a bearish fall. Expecting bulls to weaken this week and another fall in gold might happen. If gold manage to break above 2365 again the sentiment will change and bulls will take over the goldmarket again.
Bearish midterm target lies around 2305. While bullish target might be 2400 again.
Resistance: 2344, 2352, 2364
Support: 2330, 2313, 2305
Kommentar:
Gold fell as anticipated. Congrats if you followed
Kommentar:
Target smashed!
I do believe market will try and take order from 2352-2355 and posibile 2363-2367 first before we can see a bearish movement. If we get proper break below the bullish channel we will add more sells(But all depend were the breakout comes. certain Support levels can create fakeout in higher timeframes.
Last but not least. A confirmed break above 2367 can change the whole market perspective. But a break above 2375 will 100% change the sentiment on gold more bullish. Targeting 2400 zone✅
Given arrows on chart is a posibility not a signal