The bullish momentum of Price last Friday implies we might be seeing the beginning of a new wave after the massive rejection at the demand zone at 1810.
On the 3day chart shown below, we saw that MACD has shown a dip in momentum which validates the divergence of wave 2 and wave 4

The USD news released during the week also had little or no effect on the momentum of Gold coupled with the fact that the Israel-Palestine war is also a factor, I think we might be seeing new highs on GOLD for this year soon.
For the immediate concern, there's a supply zone at 1940-1952, and if GOLD rejects there, we might see some pullbacks to the demand zone shown on the chart.
I would advise looking for buying oppportunities until price reaches supply zone
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
On the 3day chart shown below, we saw that MACD has shown a dip in momentum which validates the divergence of wave 2 and wave 4
The USD news released during the week also had little or no effect on the momentum of Gold coupled with the fact that the Israel-Palestine war is also a factor, I think we might be seeing new highs on GOLD for this year soon.
For the immediate concern, there's a supply zone at 1940-1952, and if GOLD rejects there, we might see some pullbacks to the demand zone shown on the chart.
I would advise looking for buying oppportunities until price reaches supply zone
I would love to hear your thoughts 🤔 on this, so feel free to leave a comment ✍.
Please like 👍❤ this idea 💡 if you agree, and follow me for more updates ❕❕❕
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Nota
😍 200 whooping pips 💸🤑🤑Nota
Take partials here 🤑 and let the rest run to 1948Nota
All TP hit 1950 confirmed. Follow me for more update
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.