Gold - This Will Be The Top!

13 nov 2024

Gold (GOLD) is starting to reject the channel resistance:



Click chart above to see the detailed analysis👆🏻

Gold perfectly retested the top of the rising channel after rallying more than +35% over the past couple of months. Just looking at this overextended rally alone, it is quite likely that Gold will correct even more and maybe, we will even see a retest of the previous breakout level.

Levels to watch: $2.700, $2.050

Keep your long term vision,
Philip (BasicTrading)

19 nov 2024

Trade attivo

Trading update on Gold (GOLD):



Click chart above to see the detailed analysis👆🏻

Gold is clearly losing momentum and over the past couple of days, we saw a significant selloff in just a very short period of time. Market structure on the smaller timeframes is not totally bearish yet, however looking at the channel resistance, a move lower is still quite expected.

Levels to watch: $2.700, $2.050

Keep your long term vision,
Philip (BasicTrading)

26 nov 2024

Trade chiuso: obiettivo raggiunto

Trading update on Gold (GOLD):



Click chart above to see the detailed analysis👆🏻

Volatility at the top of a bullrun is actually nothing unexpected and is more often than not a sign that big players are selling their positions. Nothing changed on Gold so far - as a bull, it might be smart to finally take partials - as a bear, it is quite likely that Gold will create a healthier correction from here.

Levels to watch: $2.700, $2.050

Keep your long term vision,
Philip (BasicTrading)