Gold had very strong move yesterday and broke up the falling channel which is very huge bull flag. Right now price approaching supply zone.
There is two posible scanarios:
As you see drawed in chart, 1st scenario is pull back to retest higher edge of the falling channel and fibo level 0.236 (@1914.2) and then continuation in direction of bull trend.
2nd scanario more likely to happen, in my opinion will be a breakout the supply zone and then pull back to retest it.
My target is 0.5 fibo level @2082.1
If you like the idea, do not forget to support with a 👍 like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.
There is two posible scanarios:
As you see drawed in chart, 1st scenario is pull back to retest higher edge of the falling channel and fibo level 0.236 (@1914.2) and then continuation in direction of bull trend.
2nd scanario more likely to happen, in my opinion will be a breakout the supply zone and then pull back to retest it.
My target is 0.5 fibo level @2082.1
If you like the idea, do not forget to support with a 👍 like and follow.
Leave a comment that is helpful or encouraging. Let's master the markets together.
