As we can see, the market keep trying to hold above the critical area that can damage the Bullish trend.
From this chart, I can see that Gold was trading in a symmetrical triangle. We are going to reach the end of the apex in a few days, and if this breaks above the Resistance Line, could be a beginning for Gold to continue track higher prices.
0.786 Fib was reject in the last session. As we can see, the price was trying to breach $1270 a couple times and when it failed the prices got sudden boost and went up to $1280 again.
I don't really sure, but if I wasn't wrong, the last candlestick is formed a Long-Legged Doji which is also a sign for a bottom price if we got a nice confirmation today.
So, I decide to still neutral and wait for a good entry in the long side position.
Please leave your idea in the comment section.
And if this analysis helpful, please click the " Like " button.
Thanks and cheers!!
From this chart, I can see that Gold was trading in a symmetrical triangle. We are going to reach the end of the apex in a few days, and if this breaks above the Resistance Line, could be a beginning for Gold to continue track higher prices.
0.786 Fib was reject in the last session. As we can see, the price was trying to breach $1270 a couple times and when it failed the prices got sudden boost and went up to $1280 again.
I don't really sure, but if I wasn't wrong, the last candlestick is formed a Long-Legged Doji which is also a sign for a bottom price if we got a nice confirmation today.
So, I decide to still neutral and wait for a good entry in the long side position.
Please leave your idea in the comment section.
And if this analysis helpful, please click the " Like " button.
Thanks and cheers!!