Gold has been on a strong move to the upside , fanned by the global geopolitical risks. Price is in new territory , and the
bias remains technically to the long side ( all MAV's aligned up) .
Considering entering a long
1. Enter - around $1930 ( confluence of 20 MAV and .50 fib retracement)
2. Target - around $ 2130 ( Monthly R2 pivot and 1.27 fib extension)
3. Stop - $ 1810 ( below 50 MAV and at secondary support zone , Monthly S4 pivot)
4. RR = 2
bias remains technically to the long side ( all MAV's aligned up) .
Considering entering a long
1. Enter - around $1930 ( confluence of 20 MAV and .50 fib retracement)
2. Target - around $ 2130 ( Monthly R2 pivot and 1.27 fib extension)
3. Stop - $ 1810 ( below 50 MAV and at secondary support zone , Monthly S4 pivot)
4. RR = 2
