Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that last week Gold just perfectly rejected a quite obvious previous weekly support/resistance area, and I also uploaded an analysis which you can find below, perfectly explaining why this move was quite likely.
We are now once again retesting this weekly support zone, we are also still having bullish moving averages so from a weekly perspective I just do expect another (short term) rejection away from the resistance zone.
On the daily timeframe you can basically see the same move; we are currently retesting previous daily support so if we get some bullish confirmation inside of this zone there is definitely a high probability that we will see another rejection towards the upside from here.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that last week Gold just perfectly rejected a quite obvious previous weekly support/resistance area, and I also uploaded an analysis which you can find below, perfectly explaining why this move was quite likely.
We are now once again retesting this weekly support zone, we are also still having bullish moving averages so from a weekly perspective I just do expect another (short term) rejection away from the resistance zone.
On the daily timeframe you can basically see the same move; we are currently retesting previous daily support so if we get some bullish confirmation inside of this zone there is definitely a high probability that we will see another rejection towards the upside from here.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
