Gold trendline resistance breakout retest
Gold is retesting the broken trendline resistance 1850 and bouncing since. This bounce if confirmed could lead to a complete recovery to the upside and retest of 2050 high. For the downtrend reversal, we need to see a break below 1850 again. The instrument completely reversed its recent medium-term downtrend and we are possibly seeing an upside continuation in 5 waves.
Note: look for the long trade entry with the stop loss below 1870
If you want to learn trading analysis and how to get to key trading levels like in this article register for Private Live mentoring with your trading evaluation.
Take a break from your trading routine and let some funds be run by us! Copy our trades!
