Gold Bullish Continuation Aiming for New Highs

Nenad Kerkez Top-XE

Gold is unstoppable. After a retracement to the POC zone at 1385-1390 the price continued going up. We have the new POC zone formed at the ATR low.

1410-1415 could make the price bounce again on a bullish reversal candlestick pattern. If we don’t see a retracement to the POC watch for a continuation above D H4 camarilla pivot at 1438. The main target is 1442. However a strong bullish impulse could lead to 1450 and 1456. Only a break below the lower trend line 1390 could make Gold neutral again. So far, buying the dip is obvious on intraday time frames.

Gold Current Trading Positions

Sell 20%

Buy 80%

Avg Sell Price 1360.00

Avg Buy Price 1285.50

Liquidity Distribution

The analysis has been done with the CAMMACD.MTF template.

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Author

Nenad Kerkez

Top-XE

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