Gold

GOLD V-Shaped Reversal Opens the Way to 1770 Zone

GOLD has come to the point where it will be either continuation to the upside or move lower. At this point it is looking bullish.

Consolidation between the ascending trend line and flat top has almost come to an end. Vortex of the consolidation pattern should soon break. V Shaped reversal brought the price higher and the 1740 zone should support the bulls. If we see the breakout first target will be 1751 followed by 1762 and 1779. As long as the price is above 1725, bulls are in control. Break below 1731 and we will see the breakout to the downside.

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Cheers and safe trading,

Nenad

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.