GOLD Uptrend is Weaker But It’s Still There

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

Gold is still in uptrend. The market is trying to break above mid ATR pivot at 1720 in order to proceed with upmove.

At this point, we can see that 1710 is the first support in Gold uptrend. Technically, we can see a U shaped bottom in uptrend which usually means bullish continuation. If GOLD manages to stay above 1710 1nd 1700 we should see continuation towards 1734 and 1750. Only a break below 1700 will put Gold in intraday downtrend targeting 1689 and 1683. W H3 is 1748 which coincides with possible move up to 1750.

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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