Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Gold is currently perfectly retesting and already starting to reject a quite nice previous weekly resistance area which is now turned support at the $1940 level.
You can also see that overall weekly market structure is still bullish, we also have bullish moving averages on gold at the moment, so there could still be the possibility that Gold will once again retest the previous all-time-high at the $2050 area.
On the daily timeframe you can see that over the past couple of days, Gold has been trading in a quite obvious range so I am now just waiting for a breakout above the resistance at the $1989 level which is then turned support and then I do expect more continuation towards the upside.
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 Gold is currently perfectly retesting and already starting to reject a quite nice previous weekly resistance area which is now turned support at the $1940 level.
You can also see that overall weekly market structure is still bullish, we also have bullish moving averages on gold at the moment, so there could still be the possibility that Gold will once again retest the previous all-time-high at the $2050 area.
On the daily timeframe you can see that over the past couple of days, Gold has been trading in a quite obvious range so I am now just waiting for a breakout above the resistance at the $1989 level which is then turned support and then I do expect more continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
