Goldview Analysis and Target UPDATE !

We posted this idea yesterday for market open identifying some key support areas and two Bull targets. BOTH BULL TARGETS DONE TO THE TEE !!!!

We described how the price was respecting a descending Goldturn channel and how we identify when a channel is likely to be broken and the direction of the break. We identified a goldturn support within the channel that was stopping price from visiting the bottom of the channel and as suggested we expected a break up and challenge to Goldturn targets, which it did nicely!!!! (Please see related link idea below)

We still have a support target at 1778 due. A test and rejection was needed on this level to give full clearance of the channel. This leaves room for another drop to this level therefore will not add to any longs yet and we have taken profit at 1790 already. We will keep 1778 in mind and not as a target but more so for support to confirm if we have had a clear range breaker.

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