GOLDVIEW REPORT - Overview Bearish before Bullish

PROJECTION -

1787 has now been broken with our EMA5 moving average. 1778 has been broken with price but still supported by EMA5, which opens a window for sideway movement. We may see our self in a short term range of 1787 to 1767. After this consolidation we are looking for a breakout. The two range open to us once we break out this range are on the downside 1767 - 1748 and on the upside 1787 - 1806. If the downside range breaks 1748 then we will see our 1726 signal hit. If we break the range on the upside on 1806 we will see targets open to 1830.

Our projection on the chart hopefully shows a potential scenario that we have mapped out through our analysis and open signal and ideas. Traders can be confident in direction but to define the order of the journey is a different skill itself.

CHART OBSERVATION -

H1
Support 1778, Resistance 1797/1806
Ma63 and Ma84 at 1794
Ma21 has crossed Ma200,
MOVING AVERAGES are acting as resistance but also emerging, which can be the tell tell sign for a break out
Ranging movements may continue within 1778 and 1806 then 1822 and 1830
If 1778 is broken the next level of support will be 1768
If current bounce off is strong enough price will go back to challenge 1797 and then 1806

H4
Support 1766, Resistance 1806
Price has touched Ma200 which has acted as a level of support at 1769 with immediate bounce off bringing it back into 1781 and 1806 range
Price may attempt to challenge Ma200 again if broken will experience support at 1766
Currently challenging support at 1781 as well as Ma84 and Ma63, if support is strong enough it will go back to challenge resistance at 1794 and then 1806

DAILY - D1
Support 1769 Resistance 1818
Current candle is touching EMA5, Ma21 ,Ma63, Ma84 and Ma200
Currently moving sideways within set range.
All moving averages are consolidating in preparation for a breakout
If price breaks 1818 the next resistance challenge will be 1834
If support at 1769 is broken the next level of support will be at 1752

WEEKLY
Support 1761 Resistance at 1878
Ranging movement between 1731 and 1878
Current candle touching EMA5 Ma21 and Ma84
MA's above may act as resistance, if broken price will go back to challenge 1806 and then 1878
If price resists this will encourage price to go back down to challenge 1761, if broken next level of support will be 1730
Ma200 is positioned below current support range at 1549

MONTHLY
Support 1765 - Resistance 1820, 1867
Ranging within current range
EMA5 and Ma21 have crossed and are touched by current candle body positioned and ready to challenge current support at 1765, if broken next level of support will be 1696
If support holds strong we expect a retest of resistance at 1820 and if broken next level of resistance expected at 1867

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