GOLD Bulls Are in Control but Watch for W H5

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

GOLD is still in a strong uptrend. Bulls are in full control, but the market is getting closer to a possible retracement.

W H5 camarilla pivot is the strongest weekly camarilla resistance. We should see a retracement if the levels are reached. Only a bullish close above 1785 might push more momentum into the price testing 1800 level. However, if we see a drop from the W H5, then W L3 1750-1730 should provide a fresh momentum and the market could bounce again. Gold is pretty stable at this point compared to Forex currencies as the uptrend is strong and persistent.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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