Hi fellas, we observe a very good Entry in Gold, Here are the 5 reasons you should be confident about Gold going Bullish:
Further in my opinion, we may see a better price (2000.00) than current price (2004.25) and the market may accumulate a little before the Bullish rally begins.
Tip: Before taking any Entry, Always do a proper Risk-Reward calculation.
Let me know what you think, and Let's see How Gold moves.
~ Usama
- Trendline Support on 4hr timeframe / Strong Bounce
- There was a Bearish Divergence as a result of which, the price fell from 2048 to 1992, and the divergence spell seems to have ceased now
- On 4hr timeframe, the last closing closing represents a Doji candle with almost no lower wick
- On 1hr timeframe, Bullish Hammer candlestick followed by two more bullish candles resulted into a strong bounce from Trendline Support
- As per Seasonals of Gold, April is Bullish 7/10 times in last 10 years.
Further in my opinion, we may see a better price (2000.00) than current price (2004.25) and the market may accumulate a little before the Bullish rally begins.
Tip: Before taking any Entry, Always do a proper Risk-Reward calculation.
Let me know what you think, and Let's see How Gold moves.
~ Usama