GOLD strongly reacted to the weekly demand zone at 1468$ and is now near to the monthly supply zone.
If we break the blue Trend line:
-Price will first retest the last daily demand zone at 1626$, where we might find a few bulls again trying to push the price higher. (This could create a range between last daily supply and last demand).
-If price breaks this zone, market will go retest the last weekly supply at 1468$.
If price keeps going with the TL:
- Monthly supply zone is quite large (1670-1800), meaning that we could find bears a bit everywhere in it. So, it would not be advised to keep buying blindly gold.
If price breaks the last weekly demand zone at 1468$:
- We will find the next level at 1305$.
For you to know: GOLD is still in an uptrend in monthly and weekly TF, the price has just reached super dangerous levels that no one can ignore, and could lead price to some kind of retracement.
Trade safe,
AT
If we break the blue Trend line:
-Price will first retest the last daily demand zone at 1626$, where we might find a few bulls again trying to push the price higher. (This could create a range between last daily supply and last demand).
-If price breaks this zone, market will go retest the last weekly supply at 1468$.
If price keeps going with the TL:
- Monthly supply zone is quite large (1670-1800), meaning that we could find bears a bit everywhere in it. So, it would not be advised to keep buying blindly gold.
If price breaks the last weekly demand zone at 1468$:
- We will find the next level at 1305$.
For you to know: GOLD is still in an uptrend in monthly and weekly TF, the price has just reached super dangerous levels that no one can ignore, and could lead price to some kind of retracement.
Trade safe,
AT