- May 19, 2021
- Posted by: Tradingshot Articles
- Category: Commodities
Gold is getting outside of the Channel Up that started on the March 31 bottom (blue channel) and may be forming an even more aggressive Channel Up (dashed lines). The next Resistance Zone is the January 06 – 07 Volatility Cluster (1910 – 1925). The 4H MA50 and 4H MA100 continue to form a zone for pull-back buying. The natural target is 1900 (just below the Volatility Cluster) and the Jan 06 High of 1960 in extension.
Most recent Gold signal:
Similarities with 2020:
March buy signal on the bottom: