Gold- strong bull leg to follow
Gold was traded in a range last week, with a low around 1790 and a high around 1820, and every time I don't have an idea of the short-term direction, I look at a long-term picture.
And, on the weekly chart, we can clearly see that the trend is up and, at this point, we also have a higher low in place marked by a pin bar 2 weeks ago. Also, this pin bar is in line with an important support at 1750.
That being said I will look to buy Gold next week for short-term speculation.
Swing traders can also look to buy dips with a target at 1950 and a stop loss under pin bar's wick
And, on the weekly chart, we can clearly see that the trend is up and, at this point, we also have a higher low in place marked by a pin bar 2 weeks ago. Also, this pin bar is in line with an important support at 1750.
That being said I will look to buy Gold next week for short-term speculation.
Swing traders can also look to buy dips with a target at 1950 and a stop loss under pin bar's wick
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