GOLD ANALYSIS

13 Jun 2019

as we can see here, in the past weeks due to the sudden weakness in the dollar, it has allowed gold to gain sudden strength and break through a previous descending channel trend, into a very strong breakout which has broken multiple resistance levels and has now reached a major resistance level. this levels has once been tested by the market and then the market went back down to the downside and then tested the 0.382 level on the Fibonacci, to then not go down any further and leaving a long dogi candle as confirmation. then moved back up strong to approach the top resistance line again. due to this, there is a strong possibility that because of market cutting short and then bouncing back strong at the 0.382 line, that the price of gold will rise and break through the resistance and create higher highs and create new higher levels and new higher structure.