Gold -> Higher Timeframe Still Bullish

3 ביולי 2023

Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Gold💪

The monthly timeframe on Gold is still looking quite bullish considering that Gold is currently retesting the 0.382 fibonacci retracement level in confluence with support at the $1930 level.

The weekly timeframe is showing some indecision at the current weekly support area which means that sellers are currently not able to push price lower, so we might see a reversal here.

The daily timeframe on Gold however is not looking bullish at all, Gold is still creating lower lows and lower highs which is a very weak sign so I am now waiting for Gold to shift back to a bullish market before I then do expect a next bullish wave on the daily timeframe.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset: