GOLD Possible Bounce Above the POC Zone at D L3

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

Markets have been very rangy and slowly. The big problem for both intraday and intraweek traders is the irrational market movement which has moved throughout the whole week.

At this point most markets completed they fake-outs and there could be some bounces off the zonal pivots. Gold is showing a lot of buyers around the 1690 zone but the continuation is only possible above 1695. If 1688 stays unbroken we should see a bounce. Targets are 1706, 1712 and 1716. Above 1716, the target is 1722. Below D L4, we should see 1683 and 1678.

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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