Here we can see that Gold is on uptrend bullish movement on bigger & smaller time frames wise, but if we take a closer look on 4 hr chart Gold is quiet about to form (h&s) reversal pattern that's if we ignore last Friday strong uptrend bullish movement due to America negative results Economic news, baring in mind we have more important news coming end of this commencing week. My thoughts goes like this if last Friday fake impulse bullish move continues Gold is going higher to reach up to ($1.801 - 6 August High) or bit higher to ($1.870 - 14 June High). BUT if last Friday's move was fake bullish impulse & Gold start to retrace back & cross level ($1,795) its going to consolidate between level ($1.795) & ($1.779 entry point black line) before it breaks it & drops down cross & hits my TP'S (yellow lines).
Here's my Resistance & Support levels for your own thinkings,
Resistance: Support:
$1.870 - 14 June High $1.717 - 10 August low
$1.834 - 15July High $1.660 - 8 August Low
$1.801 - 6 August High $1.600 - Possibility
Keep a close eye on Gold world's number one precious yellow metal, happy pip hunting traders.
Here's my Resistance & Support levels for your own thinkings,
Resistance: Support:
$1.870 - 14 June High $1.717 - 10 August low
$1.834 - 15July High $1.660 - 8 August Low
$1.801 - 6 August High $1.600 - Possibility
Keep a close eye on Gold world's number one precious yellow metal, happy pip hunting traders.
