The gold spot made a symmetrical triangle and broke upward. And it was following the downtrend line channel from the beginning of September. As you can see, the breakout candle has closed above.
I have drawn a dynamic parallel trendline to find out the last point of the rally. Long-term investors, please keep their eyes on A, B, C, D, E, F, and G. Wherein F & G are the next targets.
And day traders can take entry for $1990 - $2014+ levels.
As I described, gold tried and failed to break away from the bullish "symmetrical triangle," suggesting a continuation of the uptrend that preceded it looms.
Kindly note XAUUSD trend will change after the breakdown of D.
I have drawn a dynamic parallel trendline to find out the last point of the rally. Long-term investors, please keep their eyes on A, B, C, D, E, F, and G. Wherein F & G are the next targets.
And day traders can take entry for $1990 - $2014+ levels.
As I described, gold tried and failed to break away from the bullish "symmetrical triangle," suggesting a continuation of the uptrend that preceded it looms.
Kindly note XAUUSD trend will change after the breakdown of D.