•Gold has completed over 3 months of consolidation and may enter into a (most likely) bullish trend.
•There are multiple signs of reversal:
- Price supported twice at a 4-month demand zone (forming a double bottom) around 1450.
- Price broke above a 3-month falling trendline.
- Price broke above a recent range high at 1484.
•As of current, the price is rising and supported by a rising trendline which gives us a way to identify the next entry level to buy gold.
•First entry range: 1483 – 1480, SL : Below 1476•Second entry range: 1475 – 1470, SL: Below 1465
Related Post
