Hello traders,
The Gold Future is still increasing. GC takes each time an upward trend to reach a level (A, B, C, D) and after each one GC consolidates that level by a light decreasing trend or a trading range.
Currently, after consolidating level D, GC will try to reach the level price of 1827. If there were important volumes of buyers we will record a new maximum price for GC, it will break that resistance of 1827.
However, if GC wasn’t taken by buyers, we could see a rebound on resistance and a decreasing trend. It’s the most probable scenario. In that case, we should wait the break of the upward trend, it will give a clear idea about the new trend.
Thanks for reading this GC’s analysis.
I hope it helps you in your trades.
The Gold Future is still increasing. GC takes each time an upward trend to reach a level (A, B, C, D) and after each one GC consolidates that level by a light decreasing trend or a trading range.
Currently, after consolidating level D, GC will try to reach the level price of 1827. If there were important volumes of buyers we will record a new maximum price for GC, it will break that resistance of 1827.
However, if GC wasn’t taken by buyers, we could see a rebound on resistance and a decreasing trend. It’s the most probable scenario. In that case, we should wait the break of the upward trend, it will give a clear idea about the new trend.
Thanks for reading this GC’s analysis.
I hope it helps you in your trades.