GOLD is making bullish swings with ATR above 1300

2 min read
tarantula fx

tarantula fx

Head of Trading

After a rejection towards 1285 zone, the GOLD couldn’t proceed with bearish momentum and the price turned bullish. Staying above W H3 camarilla pivot, the Gold made a bullish pattern – inverted head and shoulders or inverted SHS pattern.

The POC zone comes within 1289.63 and 1291.00 ( D L3, inverted SHS, W H1, EMA89, trend line) and we might see a rejection towards 1.1299 and 1.1303. However, if the price doesn’t pull back to POC pay attention to 4h close or h1 momentum above D H3 1297.72. Push above will target 1303 and possibly D H5 1306.82.

GOLD, H1 chart

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