XAUUSD - I know its weekly.. But check this out!
I know this is a weekly chart but it still shows a very interesting trend path that we are likely following. Any trader can tell you from this chart that this is a bullish overall trend.
Notice this purple line, it could be that gold will head as low as there in order to test the purple trendline before see another MAJOR move up. This purple trend line has held ever since mid-2006 and has proven to be strong support. It will be a great buying opportunity for a HUGE potential move up.
Orange line indicates the path that I see gold taking over the next few years.
Notice this purple line, it could be that gold will head as low as there in order to test the purple trendline before see another MAJOR move up. This purple trend line has held ever since mid-2006 and has proven to be strong support. It will be a great buying opportunity for a HUGE potential move up.
Orange line indicates the path that I see gold taking over the next few years.
