The main target
As seen on the gold analysis, the price has begun an uptrend that will continue at least in the short/medium term. The very short term target is the resistance identified by the EMA200 weekly and it is set at around $ 17: if the formed support on the 78.6% of the Fibonacci retracement ($ 16.25) should not yield in the case of a retest, within a few sessions the price will be in the channel between 16.8 and 17.5 $.
Bullish vs Bearish
The main trend (on weekly and monthly tf) is still bearish but tends to reach the key resistance; in the daily it has already reversed. In any case, influenced by the global macroeconomic scenario, this asset is destined to reach new highs for the period.
As seen on the gold analysis, the price has begun an uptrend that will continue at least in the short/medium term. The very short term target is the resistance identified by the EMA200 weekly and it is set at around $ 17: if the formed support on the 78.6% of the Fibonacci retracement ($ 16.25) should not yield in the case of a retest, within a few sessions the price will be in the channel between 16.8 and 17.5 $.
Bullish vs Bearish
The main trend (on weekly and monthly tf) is still bearish but tends to reach the key resistance; in the daily it has already reversed. In any case, influenced by the global macroeconomic scenario, this asset is destined to reach new highs for the period.