Gold is Going Up based on CAMMACD

Gold is Going Up based on CAMMACD

1475 zone looks very supportive. We see ascending trend line and a potential for ascending scallop pattern. Higher time frames are also bullish and we should see another attempt to proceed further up towards 1490 and 1493. If the price manages to close above 1493, then 1500 is next.

At this point its all about bulls. We might see a retracement down, but IMO, the price will be bought on dips again.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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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.