Gold is unstoppable. After a retracement to the POC zone at 1385-1390 the price continued going up. We have the new POC zone formed at the ATR low.
1410-1415 could make the price bounce again on a bullish reversal candlestick pattern. If we don’t see a retracement to the POC watch for a continuation above D H4 camarilla pivot at 1438. The main target is 1442. However a strong bullish impulse could lead to 1450 and 1456. Only a break below the lower trend line 1390 could make Gold neutral again. So far, buying the dip is obvious on intraday time frames.
Gold Current Trading Positions
The analysis has been done with the CAMMACD.MTF template.
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The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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