Gold: Opportunities for Bulls
Gold, Daily, Bullish
 Gold has an up-trending Monthly, and Daily chart, although it should be noted that the Weekly chart recently produced an indecision candle as a reaction to US/Iran tensions at a key level of 1,560.
However, the Daily chart has nevertheless produced a small series of bullish candles at this level, which overlaps an area of equilibrium, and indicates a likelihood of attempting another move to the upside.
There is little significant resistance above this level, and price is otherwise trending in an optimal fashion.
Traders may consider an entry above the high of the highlighted green candle (1,564.1), only so long as price does NOT break the low of this candle first. The low of the previous candle, included within the highlighted area, could be considered as the swing-low of price here and may offer a valid stop-loss placement below its low of 1,541.
rjofutures.rjobrien.com |
