Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
Over the last three weeks Gold had a quite strong correction, however from a weekly perspective gold was quite overextended towards the upside so this correction was not totally unexpeted.
Furthermore we are currently retesting another weekly support/resistance zone, so if the market makes a deeper test into the zone I absolutely do expect the continuation towards the upside.
On the daily timeframe I am now just waiting for the market to again retest the previous resistance area and if we then start creating bullish market structure, the continuation towards the upside will be very likely.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
Over the last three weeks Gold had a quite strong correction, however from a weekly perspective gold was quite overextended towards the upside so this correction was not totally unexpeted.
Furthermore we are currently retesting another weekly support/resistance zone, so if the market makes a deeper test into the zone I absolutely do expect the continuation towards the upside.
On the daily timeframe I am now just waiting for the market to again retest the previous resistance area and if we then start creating bullish market structure, the continuation towards the upside will be very likely.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
