Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe gold just recently had a quite harsh drop towards the downside without any short-covering rally towards the upside.
We are also retesting a quite strong previous structure area so I am now just waiting for the market to start the weekly rejection away from this support zone.
On the daily timeframe we are also retesting previous resistance which is now turned support so I am already in a long position on gold with my upside target being at the next daily resistance area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe gold just recently had a quite harsh drop towards the downside without any short-covering rally towards the upside.
We are also retesting a quite strong previous structure area so I am now just waiting for the market to start the weekly rejection away from this support zone.
On the daily timeframe we are also retesting previous resistance which is now turned support so I am already in a long position on gold with my upside target being at the next daily resistance area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
