Gold is Extremely Bullish Above 1500-10 zone

Nenad Kerkez Top-XE

The Gold has formed a strong bullish trend and continuation of the bullish trend will happen as long as the price is above 1500.

1500-10 is the POC zone which holds the bullish trend in place. A bounce above 1547 is needed for a continuation towards next major targets – 1564 and 1569. On the H4 chart we can see that 1536 is the support now, so ideally for bulls the price might retest the level and close above it. If the price fails to make a close above, watch for the POC zone bounce towards higher levels.

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

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Author

Nenad Kerkez

Top-XE

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