Gold Market Analysis
Hey Everyone!
After a shining week for gold and giving back some of the gains, i think it's fallen enough and there may be a buying opportunity at this level.
- The Black Channel : Price hit all time high level and touched upper border of the shown channel. now it's sitting at the bottom of it where i think is a strong support.
- The Blue Channel : A very strong horizontal zone that price validated it's significance by several touch and reverse.
- There is a 1:1 measured move from points AB.
- The Red Line : A 45 degree line. very strong barrier providing support at this level.
- If we draw a trend line from point B to ATH pivot, half of this trend rate will be crossing from this level.
And at the end it's all probabilities and market decides no matter what we think or believe.
Stay Safe & Enjoy Trading!
After a shining week for gold and giving back some of the gains, i think it's fallen enough and there may be a buying opportunity at this level.
- The Black Channel : Price hit all time high level and touched upper border of the shown channel. now it's sitting at the bottom of it where i think is a strong support.
- The Blue Channel : A very strong horizontal zone that price validated it's significance by several touch and reverse.
- There is a 1:1 measured move from points AB.
- The Red Line : A 45 degree line. very strong barrier providing support at this level.
- If we draw a trend line from point B to ATH pivot, half of this trend rate will be crossing from this level.
And at the end it's all probabilities and market decides no matter what we think or believe.
Stay Safe & Enjoy Trading!
Penafian
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