GoldViewFX - MONTHLY CHART LONG TERM GOLD OUTLOOK

٢٩ مايو ٢٠٢٣Hey Everyone,

Market closed early today due to bank holiday so we thought we would share our updated Monthly chart projection, as part of the multi timeframe analysis we shared yesterday.

Our long term projection on the monthly chart looks Bullish with ema5 cross above 1878 Goldturn opening the range above. Price and ema5 is also sitting above the channel half line further supporting the bullish structure. However, start of the month had a big detachment below opening room for retracement below, highlighted by the blue circle. This detachment is now nearly complete and only a small gap left, which is not worth chasing but just to keep in mind when managing swings on the smaller timeframes.

Our plans long term to buy dips is still in play and we will continue to use the smaller timeframes to track and trade the range level to level.

As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Please don't forget to like, comment and follow to support us, we really appreciate it!

GoldViewFX
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