HomeContributorsTechnical AnalysisGold Bulls Are In Control But Watch For W H5

Gold Bulls Are In Control But Watch For W H5

GOLD is still in a strong uptrend. Bulls are in full control, but market is getting closer to a possible retracement.

W H5 camarilla pivot is the strongest weekly camarilla resistance. We should see a retracement if the levels is reached. Only a bullish close above 1785 might push more momentum into the price testing 1800 level. However, if we see a drop from the W H5, then W L3 1750-1730 should provide a fresh momentum and market could bounce again. Gold is pretty stable at this point ccompared to Forex currencies as the uptrend is strong and persistent.

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