Daily and Weekly Analysis on GOLD by ThinkingAntsOk
Main Items we see on the daily chart:
a)Price Broke a major resistance Zone on a bullish movement that started on May 30th
b)After that, the price made a Pennant pattern
c)Pennant Patterns are considered continuation structures
d)Currently the price Brok out from the pennant pattern
Based on that we expect a continuation of the bullish movement towards the next major resistance zone.
If you are planning to take long trades on Gold, a good idea is to wait for a pullback to the support zone, and then trade the Breakout of the Pullback on a lower timeframe like 4HS / 1H, Don't enter the market without proper confirmation.
Weekly Vision:
a)Price Broke a major resistance Zone on a bullish movement that started on May 30th
b)After that, the price made a Pennant pattern
c)Pennant Patterns are considered continuation structures
d)Currently the price Brok out from the pennant pattern
Based on that we expect a continuation of the bullish movement towards the next major resistance zone.
If you are planning to take long trades on Gold, a good idea is to wait for a pullback to the support zone, and then trade the Breakout of the Pullback on a lower timeframe like 4HS / 1H, Don't enter the market without proper confirmation.
Weekly Vision: