Gold coiling to break out; aiming for to 2100

١٧ يونيو ٢٠٢٠

Gold is coiling to breakout, having showed, of late, strength in holding up despite some selling pressure. Previously coiled, faked out and fallen back into a continued coil, it is running out of space, as the triangle/pennant comes to the end of the tip, as well as the 55EMA coming upwards in support.

MACD has just crossed up into the bullish territory, and now what is needed is momentum with volume support to break out, through the circle drawn.
This move is suggested to be a little more explosive, so let’s see...