We have on gold a bullish movement. we just broke above the Dayli trend line and we are looking for a retest in order to get a good entry with a proper RR.
The Monthly and Weekly timeframes are showing bullish pattern alongside with the COT data of the previous week that state that financial institutions opened more than 6000 new long positions on gold and closed about 5000 short position which clearly shows signs of strength for gold in the next week.
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Trade safe !!!
The Monthly and Weekly timeframes are showing bullish pattern alongside with the COT data of the previous week that state that financial institutions opened more than 6000 new long positions on gold and closed about 5000 short position which clearly shows signs of strength for gold in the next week.
If you enjoyed this analysis smash that like button and leave a comment if you have a different opinion as I would love to have more insights about this commodity.
Trade safe !!!