XAUUSD bull based on price action.

7 ביוני 2017

Short term uncertainty due to the price of gold trying that large and well respected funnel break from years back, though this most recent $.50 new high was no coincidence. Gold id still very much bullish until price action says otherwise. My known volatility contraction points are outlined with very light red squares and the absolutely key long-term levels have red around them. Blue vertical dotted lines pinpoint the times that volatility contraction breaks have given us well respected key levels. USDJPY is one ugly chart right now, but pressing for a new low on the bigger time-frames may prove difficult for a while. Thus, I am bullish on the price of gold, although getting above this funnel level again and holding for very long may take a while as USDJPY slowly breaks down. I am a buyer of XAUUSD on all significant dips.