Gold Bullish
Hey Everyone,
Please see updated D1 chart with new Goldturns, support/resistance structures and targets.
We saw price move up aggressively at the end of last week with a test on the resistance structure. This left a candle body close above 1671, leaving a gap open to 1676. However, we saw a rejection on this level on Friday, which may follow with a movement down to the retracement zone, identified on the chart with EMA5 crossing MA21 also supporting the momentum.
A cross and lock below the retracement zone will open the full swing range and an EMA5 cross and lock above the resistance structure will open 1686 and 1695. We will trade this level to level with our Goldturns and analysis, picking key levels of support for profitable buys with the perfect exits to avoid range traps and to be ready to get back in again.
BULLISH TARGETS
1665
1668
1671
1676
EMA5 CROSS AND LOCK ABOVE 1676 WILL OPEN 1685, 1695
BEARISH TARGETS
1659
1651
1647
EMA5 CROSS AND LOCK BELOW 1647 WILL OPEN 1638, 1634, 1626, 1620
SWING RANGE
1620
SUPPORT STRUCTURE
1611
As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Please see updated D1 chart with new Goldturns, support/resistance structures and targets.
We saw price move up aggressively at the end of last week with a test on the resistance structure. This left a candle body close above 1671, leaving a gap open to 1676. However, we saw a rejection on this level on Friday, which may follow with a movement down to the retracement zone, identified on the chart with EMA5 crossing MA21 also supporting the momentum.
A cross and lock below the retracement zone will open the full swing range and an EMA5 cross and lock above the resistance structure will open 1686 and 1695. We will trade this level to level with our Goldturns and analysis, picking key levels of support for profitable buys with the perfect exits to avoid range traps and to be ready to get back in again.
BULLISH TARGETS
1665
1668
1671
1676
EMA5 CROSS AND LOCK ABOVE 1676 WILL OPEN 1685, 1695
BEARISH TARGETS
1659
1651
1647
EMA5 CROSS AND LOCK BELOW 1647 WILL OPEN 1638, 1634, 1626, 1620
SWING RANGE
1620
SUPPORT STRUCTURE
1611
As always, we will keep you all updated with regular updates throughout the week and how we manage the setups. Please don't forget to like, comment and follow to support us, we really appreciate it!
GoldViewFX
XAUUSD TOP AUTHOR
Penafian
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