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GOLD: Bulls regain momentum to charge ahead ?
Hello Traders and Investors
Gold has been largely bullish for the past weeks making new all time price highs unapologetically. From the start of November we started to see a significant retracement that was justified by a long over due brake on the pedals.
In what seems to be a reversal Gold buyers have started to regain momentum as price broke out of the 4H downward trendline together with the 4H demand zone where selling pressure failed to hold. After which we saw a bounce on the 4H demand zone which is a strong indication of bullish momentum.
Trade idea
There is a high probability price will continue to rise, take profit targets for short to medium term buyers can be set for 2710.971
Please don't forget to like, share and follow for more content.
Thank you
Gold has been largely bullish for the past weeks making new all time price highs unapologetically. From the start of November we started to see a significant retracement that was justified by a long over due brake on the pedals.
In what seems to be a reversal Gold buyers have started to regain momentum as price broke out of the 4H downward trendline together with the 4H demand zone where selling pressure failed to hold. After which we saw a bounce on the 4H demand zone which is a strong indication of bullish momentum.
Trade idea
There is a high probability price will continue to rise, take profit targets for short to medium term buyers can be set for 2710.971
Please don't forget to like, share and follow for more content.
Thank you
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