Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that last week Gold once again retested and rejected a quite massive previous resistance zone - also the previous all time high - exactly at the $2050 level.
You can also see however that from a weekly perspective, Gold is still in a massively bullish market, moving averages and overall market structure is still bullish, so despite the recent rejection on Friday, I still do expect a break and retest of the previous all-time-high and then I do expect another bullrun on Gold.
On the daily timeframe you can see that with Friday's candle Gold again rejected the previous weekly and daily resistance zone, however as we are speaking Gold is also retesting a previous daily resistance area which is now turned support at the $2005 level, so from a daily perspective I simply do expect more continuation towards the upside from here.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that last week Gold once again retested and rejected a quite massive previous resistance zone - also the previous all time high - exactly at the $2050 level.
You can also see however that from a weekly perspective, Gold is still in a massively bullish market, moving averages and overall market structure is still bullish, so despite the recent rejection on Friday, I still do expect a break and retest of the previous all-time-high and then I do expect another bullrun on Gold.
On the daily timeframe you can see that with Friday's candle Gold again rejected the previous weekly and daily resistance zone, however as we are speaking Gold is also retesting a previous daily resistance area which is now turned support at the $2005 level, so from a daily perspective I simply do expect more continuation towards the upside from here.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
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www.basictrading.net/elite-program
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