Gold Spot Bullish

Hello traders this is my analysis on gold spot my one of my favorites CFDs Using Heikin Ashi 4H candlestick charts showing higher highs and higher lows price action on this parallel channel still growing strong and still showing bullish signs.

However, I see that we are heading towards psychological resistance price level 1958$ which is a very strong resistance zone denoted in red rectangle which price has tested twice around November 2020 and early January 2020 partly of the decline of corrective wave B.

Price action set up now to break this resistance point with strong buying volume and bullish sentiment from traders and analysis.

I'm 85% confident gold is set up for a bullish market. Get your orders in; place your long positions from anywhere between EP@1890-$1910 ;TP@ 1950

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Zlecenie aktywne:

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SMA cross on the daily timeframe confirming a bullish reversal, Target level between 1950-1975$. Trade safe

Zlecenie aktywne:

Short term reversal to touch previous downward trendline and we keep pushing

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Price action still trying to touch previous descending parallel channel line. 1950-1955$. we can take long positions from there.

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