Gold v-shaped reversal opens the way to 1770 zone

Nenad Kerkez Top-XE

GOLD has come to the point where it will be either continuation to the upside or move lower. At this point it is looking bullish.

Consolidation between the ascending trend line and flat top has almost come to an end. Vortex of the consolidation pattern should soon break. V Shaped reversal brought the price higher and the 1740 zone should support the bulls. If we see the breakout first target will be 1751 followed by 1762 and 1779. As long as the price is above 1725, bulls are in control. Break below 1731 and we will see the breakout to the downside.

The analysis has been done with the CAMMACD.Core System.

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Author

Nenad Kerkez

Top-XE

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