GOLD Regular Bullish Divergence at M L3 Pivot
May 2, 2018
2 min read
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Gold has been in a steady uptrend, but we can clearly see that the regular bullish divergence has formed at Montlhy L3 Pivot. This might cause a bounce in the price.
M L3 -1300 is the crucial level for further development of the price. Gold is retracing and we might see 2 POC zones. 1314-17 and 1328-30. POC and POC2. Have in mind that the POC 2 is stronger due to higher price confluence. POC2 shows both M H3 and W H3 as resistance levels so the price should reject if it gets there. However, the first POC zone could also show a rejection. Although its also 23.6 Fib we might see a short term rejections too. Only below 1300, the down trend will resume towards 1284.
Good trading,
Nenad Kerkez aka Tarantula FX
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