vanirof

1740 bottom ?

vanirof Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
I expect triple bottom. In second half of July big bullish advance to last year high and beyond. This scenario would be invalidated if RSI trendline long-term support on 1Y chart break.
Comment:
this week bullish targets are 1821,1856,1876
Comment:
gold has shown strength, building momentum will explode upwards soon
Comment:
In this time of year gold is extremely bullish, any stronger upward perturbation can turn into a breakout and momentum keeps building. Support zone 1740-1770 seems stable for a week and main trend is up. Like it is on a break to test resistances 1800-1900. I my opinion it will surpass them in next 3 weeks.
Comment:
It seems to me today that last chance for 1740 has passed, in next 2 weeks I expect either range or bullish behavior.
Comment:
gold will probably break 1800 lvl in next10 hours
Comment:
I expect that week will start with a gap.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.