Gold's Upcoming consolidation and eventual breakout
When 1766 area breaks upwards, we are looking for 1788 area, where we will probably see some consolidation. It is also a pivot level from May16th, so we will see some push back from those who short.
The upper Daily Bollinger Band is 1784ish at present, so this will act as resistance.
Also just above is the 1800 level, the 10WMA & 50DMA are also converging.
In summary a pause and then an attack on the 1800 level and beyond.
A close above 1810 area opens up the 1840 level.
An interesting few weeks ahead.
The upper Daily Bollinger Band is 1784ish at present, so this will act as resistance.
Also just above is the 1800 level, the 10WMA & 50DMA are also converging.
In summary a pause and then an attack on the 1800 level and beyond.
A close above 1810 area opens up the 1840 level.
An interesting few weeks ahead.
The Deeper The Better
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