After our previous analysis, GOLD on the 4h chart shows more bullish strength and the price reached the 2040 level.
A break of the weekly resistance indicates that the bullish pressure has increased and a possible break over the 2050 area can happen.
How can i approach this scenario?
The price has retraced on Friday over the previous resistance now turned support at the 0.786 Fibonacci level.
In the pre- market session the price is moving to the 50% treavement and a break above can be a sign of bullish pressure.
According to Plancton's strategy IF the market will break above we will check the opportunity for a nice long order.
A break of the weekly resistance indicates that the bullish pressure has increased and a possible break over the 2050 area can happen.
How can i approach this scenario?
The price has retraced on Friday over the previous resistance now turned support at the 0.786 Fibonacci level.
In the pre- market session the price is moving to the 50% treavement and a break above can be a sign of bullish pressure.
According to Plancton's strategy IF the market will break above we will check the opportunity for a nice long order.
Comment:
waiting for a break
Comment:
consolidation at the support area