Will #Gold be able to sustain its current support level in the upcoming week?
- Chris Trader
- 12 hours ago
- 1 min read
In the Gold On Steroids Software [4-hour chart], the CHOCH is evident as the price remains above all support levels. Being above the 50-day moving average indicates a bullish trend, as does being above the 100-day moving average.
The Golden Zone is clearly visible, serving as support during the bullish momentum. To continue the trend, it is advisable to wait for pullbacks during trend formation. The Fibonacci Retracement zone at 4560 and 4500 is a critical support area; if maintained, it should lead to further upward movement. An extension to 4800 and 5031 could be highly profitable in the coming days.
Chris
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