-This is a good opportunity to enter a long for gold. -As price broke the ascending triangle, I am looking for a retracement of the supply turned demand zone. -There is a confluence of the 23.8% fib level which is line with the demand zone which suggests price has a high probability of reaching the zone and retrace to the upside. -The 50EMA also adds another confluence as EMA is below price which indicates a bullish trend and looking for bullish signals for Gold. -I am hoping price will reach the monthly higher highs (1797.791) which can be set as a TP. Let's see how price will react during the week! Please make sure to follow, like and comment your ideas/opinion on gold!
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