Gold Market Overview

The market is in an uptrend. We could join to it using breakout signals above the swing high, which was formed after moving above SMA100, and when the price broke the downtrend line after correction movement. These 2 entry levels allowed us to entry the market using good levels for buying in the beginning of the uptrend. Now the market tries to develop this upward movement and the close traget for reaching is 1300.00 resistance level. The market has everything for reaching this resistance and the question is, will it be done in the same impulse wave or after a correction movement to 1240.00 support level with further bouncing?

RSI reached the overbought zone but still continues upward movement. MACD lines and histogram support the upward movement. DMI is bullish and confirms trend market conditions. ADX moves upward and confirms the power of bulls.

The market keeps the uptrend and it looks bullish in the beginning of 2019. Happy Holidays)

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