GOLD Bulls Are in Control but Watch for W H5

GOLD is still in a strong uptrend. Bulls are in full control, but market is getting closer to a possible retracement.

W H5 camarilla pivot is the strongest weekly camarilla resistance. We should see a retracement if the levels is reached. Only a bullish close above 1785 might push more momentum into the price testing 1800 level. However, if we see a drop from the W H5, then W L3 1750-1730 should provide a fresh momentum and market could bounce again. Gold is pretty stable at this point ccompared to Forex currencies as the uptrend is strong and persistent.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.