Despite a bearish round top from March to June, gold is in a long term bull market and the pattern is failing. A bullish cup battle is currently underway in the grip formation.
On the weekly chart, we can see that gold has shown resistance three times, but I think the third could cause excitement. His first two attempts are parabolic movements, often unsuccessful. His third rally from the 2022 lows has become more weighty, rising inside the uptrend channel. It has been returned, but I think it will be more successful this time.
GOLD
BUY 1949 - 1947
✅ TP1: 1955
✅ TP2: 1960
✅ TP3: 1965
❌ SL: 1943
On the weekly chart, we can see that gold has shown resistance three times, but I think the third could cause excitement. His first two attempts are parabolic movements, often unsuccessful. His third rally from the 2022 lows has become more weighty, rising inside the uptrend channel. It has been returned, but I think it will be more successful this time.
GOLD
BUY 1949 - 1947 ✅ TP1: 1955
✅ TP2: 1960
✅ TP3: 1965
❌ SL: 1943
