GOLD 4H : Above 2036 will rise up again
GOLD
New forecast
The price of gold is fluctuating around the 2036 area and is trying to penetrate it, and we are waiting for positive momentum that will contribute to pushing the price to resume the expected upward trend for the coming period, which is organized within the ascending channel shown in the chart, remembering that our next target is at 2055 and extends to 2067.
Therefore the upward scenario will be more likely during coming period ,but to confirm the bullish trend should stable above 2036 and then our targets will be activate ,taking into account that Consistency above 2007 is important for the continuation of the expected rise, as breaking it represents a negative factor that will put pressure on the price to begin a downward correction. so failure to stabilized above 2036 level will force the price to retest again to 2007 areas.
The expect range trading for today it will be between resistance line 2036 and support line 2007 until stabilized .
Additionally ,Today News will affect on the market.
support line : 2007 , 1993
resistance line : 2036 , 2055
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price of gold is fluctuating around the 2036 area and is trying to penetrate it, and we are waiting for positive momentum that will contribute to pushing the price to resume the expected upward trend for the coming period, which is organized within the ascending channel shown in the chart, remembering that our next target is at 2055 and extends to 2067.
Therefore the upward scenario will be more likely during coming period ,but to confirm the bullish trend should stable above 2036 and then our targets will be activate ,taking into account that Consistency above 2007 is important for the continuation of the expected rise, as breaking it represents a negative factor that will put pressure on the price to begin a downward correction. so failure to stabilized above 2036 level will force the price to retest again to 2007 areas.
The expect range trading for today it will be between resistance line 2036 and support line 2007 until stabilized .
Additionally ,Today News will affect on the market.
support line : 2007 , 1993
resistance line : 2036 , 2055
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Update
The narrow range has dominated gold price trading since yesterday. There is no change in the expected bullish trend scenario for the coming period, organized within the bullish channel that appears in the chart, remembering that our main expected target is at 2055 and 2067,
Therefore the upward scenario will be remain valid and effective but to confirm the bullish trend should stable above 2036 level and then our target will be activate ,taking into account that the continuation of the wave The bullish trend requires stability above the 2007 level.
The expect range trading for today it will be between resistance line 2036 and support line 2007 until stabilized .
Additionally ,Today News will affect on the market.
support line : 2007 , 1993
resistance line : 2036 , 2055
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️