This monthly gold chart demonstrates the beauty of using simple trend line for accurate technical analysis in long term chart, as the old sayings go "Simple is the best, Less is more."
Gold looks like it has had a nice breakout of the bullish flag formation (the descedning broadening wedge) in Feb 2022, doesn't it ? Monthly MACD indicates that a cross-over can happen soon.
March's monthly close shall confirm the breakout move if it turns out to be a green candle later. Otherwise, it could be a fake breakout.
What do you think about gold's next move based on this chart ?
Gold looks like it has had a nice breakout of the bullish flag formation (the descedning broadening wedge) in Feb 2022, doesn't it ? Monthly MACD indicates that a cross-over can happen soon.
March's monthly close shall confirm the breakout move if it turns out to be a green candle later. Otherwise, it could be a fake breakout.
What do you think about gold's next move based on this chart ?
