GOLD DAILY CHART MID/LONG TERM PROJECTION

Hey Everyone,

Please see our daily chart idea that we have been tracking for a while now, which is playing out and respecting dynamics perfectly over the last few months.

Last week we highlighted that we are likely to witness either a break above the channel or some resistance and some correctional retracement for a level to level bounce back up to continue to extend the channel range to 2205 and 2237 long term.

This played out perfectly, as we saw the rejection play into the retracement area for the correction, inline with the channel half-line support. We then stated that we expected some support for a bounce and then continuation onto channel top.

- This played out once again bouncing off the channel half line into the extended channel top once again for the finish and heading into the targets highlighted with 2237 just left open. Just perfect!!!!

Once again we have highlighted and updated a route map within the channel for retracement and support tests and levels to extend the range and channel top. We ales keep in mind 2175 is holding the structure above the channel half line support.

We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.

Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our algo generated levels and setups.

Buying dips allows us to safely manage any swings rather then chasing the bull from the top

Please don't forget to like, comment and follow to support us, we really appreciate it!

MR GOLD
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