GOLD POSSIBLE BULLISH

9 lug 2023

The Fibonacci retracement is at the 61.8% level, also there is the supporting trendline at the same fib level, which also is a key level. The 22EMA on the 4hr chart has just crossed above the 50SMA with the candles sticks above both MA. The zone is has shown a rejection candle on the higher time frame weekly. The same zone has formed a right shoulder on the fib level. A break above the neckline which will also be a break above the down trend in trend chanel will mean a bullish movement for Gold.