GOLD MONTHLY CHART LONG RANGE/TERM ROUTE MAP

12 mag

Hey Everyone,

As stated last week we completed all our Bullish targets after breaking out of the ascending channel and stated that we also need to keep in mind the detachment below highlighted in circle. This may need a correction on the top of the channel to form support for a bounce and continuation above or a break back into the channel will see the swing range zone tested long term.

- We had the anticipated correctional drop, as you can see from the wick on last months candle but not enough to complete the full detachment.

The new month candle has now opened and in a central range with room above and below for the updated detachment to complete, highlighted with the new circle and also room above to re-test the new open range

CURRENT UPDATE
The mission to retest the new open range again has started with 2296 and 2360 complete. If we get the full re-test above this month then we are likely to see ema5 move up closing the detachment gap higher for any correction to take place higher.

Long term we will like to see and look for price support above the channel top for a continuation to re-test the range above.

We still remain Bullish and will only safely take buys from support levels.

As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
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