UPDATE ON GOLD 4HR (FXKLEX)
UPDATE ON GOLD 4HR (FXKLEX)

UPDATE ON GOLD 4HR

I haven’t discussed about the Gold for sometime now due to the fact I couldn’t figure out a well technical defined pattern structure on Gold

Viewing the Image of the Gold above we can spot out a formation of rising triangle or a narrow wedge which technically have a bearish implication of price.

Resistance lies @ key-level 1695.18 and dynamic resistance of trend-line acts @ intersection of last swing high price level of 1672.31.

Support comes in @1610.78 key-level structure and support2 @1545.94

A 4hr close above last swing high will signal bullish interest to retest key-level resistance @1695.18 and which may aim price to re-target last high swing of Gold price in this year 2020.

A successful decisive close of price below last swing low of price @1641.80 will signal bearish interest willing to make a rotation of price to re-expose key-level support @1610.78 which may trigger more bearish interest to re-target next support @1545.94 .

Take note the overall trend of this currency pair is in a bullish long term trend .

Interested in our trading signals? Click here👉 https://bit.ly/2PwkK3d 👈

Want to follow along with our daily trading activities and access to unlimited trading education services? Click here now!👉 https://bit.ly/37O38FZ 👈