Gold is Getting Ready for More Upside

Gold is in a strong uptrend which has been going quite well for bulls. Buying the dips is the option if the price retraces to POC zones.

Gold is challenging 1800. If we see a drop to 1770 or 1752 zone, new buyers should emerge and bring the price up again. We can spot a steady zigzag pattern which mark the strong and continuous uptrend. Besides W L3 camarilla pivot which is supportive for Gold, additional confluence is made by Bollinger bands and 89 EMA within the first POC. The target is M H3 pivot 1812.

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.