Gold has proven great strength since since after its weekly close on the 31st of October 2022. And the monthly candle closed above the all time support of 1670.
Taking a look at the chart, we can see that Gold is currently trading at 1872, as at time of writing.
If Gold closes above the 1882 price action, we can go bullish on Gold, but there is still another resistance that we must overcome to be completely bullish on Gold, and that is the 1918 price action.
I personally think Gold can reach 1918 on the short term.
If Gold gets stopped at 1882, we can easily see a pull back to 1700.
Shorting this trade is quite risk at this point.
Taking a look at the chart, we can see that Gold is currently trading at 1872, as at time of writing.
If Gold closes above the 1882 price action, we can go bullish on Gold, but there is still another resistance that we must overcome to be completely bullish on Gold, and that is the 1918 price action.
I personally think Gold can reach 1918 on the short term.
If Gold gets stopped at 1882, we can easily see a pull back to 1700.
Shorting this trade is quite risk at this point.