Bullish Expectations: Broke Downtrend Line
Gold is expected to see further upside with 1st resistance at 1955, also a key resistance for gold, as the level being a previous consolidation area.
We can expect further upside when gold breaks above 1955 with first resistance at 2000, next at 2089, previous high.
The breakout is favored by Wyckoff traders as supply eased with demand building up, which lead to our FFI reading improving and turning positive.
On the macro end, probable new stimulus and a dovish US FED policy favors gold trading higher.
Price trading below 1875 will falsify our analysis
We can expect further upside when gold breaks above 1955 with first resistance at 2000, next at 2089, previous high.
The breakout is favored by Wyckoff traders as supply eased with demand building up, which lead to our FFI reading improving and turning positive.
On the macro end, probable new stimulus and a dovish US FED policy favors gold trading higher.
Price trading below 1875 will falsify our analysis