Hey, traders. Thank you for your comments and boosts.
Today's chart is Gold. Let's check it quickly.
We can see
1. the ascending channel.
2. support on 1770 and 1725
3. resistance on 1940 and 2020
We should check
Tuesday - Fed Chair Powell Speaks, EIA Short-Term Energy Outlook
Wednesday - Crude Oil Inventories
Thursday - Core CPI (MoM) (Dec), CPI (YoY) (Dec), CPI (MoM) (Dec), Initial Jobless Claims
Friday - UK GDP (YoY), UK Manufacturing Production (MoM) (Nov)
We can expect
1. upward movement by support on 1870
2. the price dropping from the resistance on 1940
Since last October, Gold price made ascending channel and jumped upto 1870 now.
1870 is middle line of the last boxpattern and it means strong upward movement with the ascending channel.
For now, we can expect 2020 for high. (But, it won't goes up straight. There will be dropping from 1940 for short-term.)
Our Long targets are 1825 and 1870.
Our Short tartgets are 1940 and 2020.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today's chart is Gold. Let's check it quickly.
We can see
1. the ascending channel.
2. support on 1770 and 1725
3. resistance on 1940 and 2020
We should check
Tuesday - Fed Chair Powell Speaks, EIA Short-Term Energy Outlook
Wednesday - Crude Oil Inventories
Thursday - Core CPI (MoM) (Dec), CPI (YoY) (Dec), CPI (MoM) (Dec), Initial Jobless Claims
Friday - UK GDP (YoY), UK Manufacturing Production (MoM) (Nov)
We can expect
1. upward movement by support on 1870
2. the price dropping from the resistance on 1940
Since last October, Gold price made ascending channel and jumped upto 1870 now.
1870 is middle line of the last boxpattern and it means strong upward movement with the ascending channel.
For now, we can expect 2020 for high. (But, it won't goes up straight. There will be dropping from 1940 for short-term.)
Our Long targets are 1825 and 1870.
Our Short tartgets are 1940 and 2020.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
