HOURLY CHART We have updated current support and resistance levels using our Goldturns.
At first glance we are looking for EMA5 to cross any of these Goldturn levels with a candle body close leaving a clear gap to the next level. We can see EMA5 has crossed above 1795 on market close with a candle body close leaving a gap to 1802. We expect this to get HIT.
If the price decides to take a dive down, we can only see 1777 as the floor for now. We will still continue buying dips, as the structure remains the same. Until we see 1787, 1777, 1766 broken with some ranging movement below this, we will not change our setups.
Goldturn Support levels: 1795, 1787, 1783, 1776, 1772, 1766
H3 CHART
The 3 hour chart shows 1788 Goldturn support being supported with a Goldturn created just above it strengthening the support, which is an early indication of price challenging the next level at 1802 Goldturn from 26th of November.
H4 CHART
The H4 chart shows price broke out of the Goldturn channel on the downside but supported well at the 1790 Goldturn level and created a NEW Goldturn above it, confirming some movement up to challenge the 1803 Goldturn resistance identified. The price may also challenge back into the Goldturn channel and at the very least challenge an axis level of 1816 outside the channel. If this challenge fails at 1816 we should see some retracement down to 1803 level again.
DAILY CHART
The daily chart shows that the 1789 level was supported, which indicates bullish movement up. However looking at historical data just by zooming out the chart you can see this level is not a strong daily chart level and normally price does tend to dance below it within the range of 1766 - 1770. This maybe the stronger level of support that we can rely on to give the jump needed to resume back to a Bullish setup to target 1818 again. The price may also decide to take off from here and not test 1770 level and straight for 1818 again. Either way expect movement up with potential for retracement to find good support to give the momentum needed for the PUSH UP.
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Thanks. I really look forward to these levels you post and update. I'm finding that they work far better than the standard S&R I was using before. They also provide an excellent gage when tracking the signals you post on the Premier Club.