Oro / DollaroAggiornato ✴️ GOLD Daily timeframe. Feb.20 - Feb.24
Gold rallied 3.8% on Friday and is now hitting local resistance. What's in store for Monday and the week ahead? Let's find out!
1) The price reacted too easily and too fast to the white rising support, so there is a chance of a pullback to 1843 and a retest to the white rising support (long consolidation or false-break).
2) Gold, as I mentioned in Friday's review, is still in the correction phase, and the final change of the trend will happen only after the white line is broken through
3) There is a chance that the gold could form a long consolidation between 1824 and 1843 (1865) before it makes a strong recovery.
4) But the price closes close to 1843 level, hence, on the surge of volume, the buyers might feel confident and break the given zone, forming an impulse to 1865 and 1881, if they feel a local bullish absorption.
5) Keep an eye on the current range. The price is now trading in 1843 -1824. There is a possibility of bounces and false breaks.
1) The price reacted too easily and too fast to the white rising support, so there is a chance of a pullback to 1843 and a retest to the white rising support (long consolidation or false-break).
2) Gold, as I mentioned in Friday's review, is still in the correction phase, and the final change of the trend will happen only after the white line is broken through
3) There is a chance that the gold could form a long consolidation between 1824 and 1843 (1865) before it makes a strong recovery.
4) But the price closes close to 1843 level, hence, on the surge of volume, the buyers might feel confident and break the given zone, forming an impulse to 1865 and 1881, if they feel a local bullish absorption.
5) Keep an eye on the current range. The price is now trading in 1843 -1824. There is a possibility of bounces and false breaks.
Trade attivo
❤️ Telegram channel: t.me/AndeWave
❤️ Telegram channel: t.me/AndeWave
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