Sun, Dec 04, 2022 @ 16:34 GMT
HomeContributorsTechnical AnalysisGold Rallied As Expected

Gold Rallied As Expected

The Gold edges higher and resumes the upside movement, is trading right above the $1260 per ounce and most likely will target the 1295 level.

Has broken above the outside sliding line (descending dotted line) of the major descending pitchfork, we may have a buying opportunity if will close above this level. I’ve said in the previous report that the Gold is located in the buyer’s territory after the breakout from the descending pitchfork’s body and from the minor descending pitchfork’s body, has come only to retest the 38.2% retracement level and the warning line (WL1) before has jumped higher.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

Featured Analysis

Learn Forex Trading