Analysis description
Timeframe 1H
Gold continues to move within the upward channel. Formed the third liquidity zone, from where it headed up to test the resistance level of $1834. The movement takes place on the decreasing volumes.
From the liquidity zone came out in a large green candle, forming a bullish takeover.
The stochastic RSI is in an overbought zone.
Timeframe 4H
50MA under the 200MA, and 200 under the 100 moving average; stochastic
RSI is in the overbought zone.
Forecast
I consider a LONG after a correction from current levels to the yellow zone of liquidity, then a breakout of 1834.65, then 1837 and 1842.
Timeframe 1H
Gold continues to move within the upward channel. Formed the third liquidity zone, from where it headed up to test the resistance level of $1834. The movement takes place on the decreasing volumes.
From the liquidity zone came out in a large green candle, forming a bullish takeover.
The stochastic RSI is in an overbought zone.
Timeframe 4H
50MA under the 200MA, and 200 under the 100 moving average; stochastic
RSI is in the overbought zone.
Forecast
I consider a LONG after a correction from current levels to the yellow zone of liquidity, then a breakout of 1834.65, then 1837 and 1842.