Important Day for Gold
Gold seems still moving around the movement from on 8 April to 18 May
It is consolidating until now it will decide, back to the triangle or continue the bull movement
Here is my idea for gold
1. We will long tomorrow if the price close above 1746 - 1750 for today to confirm that this is a legit breakout
2. Chart pattern suggest that gold is on its bull pennant pattern, so my bias will be bull if no 1 happened.
3. If number 1 not happened, we can wait to buy at the bottom trend line of pennant or retracement for 0,38-0,61 on fibo
4. I will update the analysis if the price sets in my buy criteria
It is consolidating until now it will decide, back to the triangle or continue the bull movement
Here is my idea for gold
1. We will long tomorrow if the price close above 1746 - 1750 for today to confirm that this is a legit breakout
2. Chart pattern suggest that gold is on its bull pennant pattern, so my bias will be bull if no 1 happened.
3. If number 1 not happened, we can wait to buy at the bottom trend line of pennant or retracement for 0,38-0,61 on fibo
4. I will update the analysis if the price sets in my buy criteria
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