Gold Trend Line Break Expected On A Positive Momentum

Nenad Kerkez

Gold is rejecting POC zone, and soon we might see a trend line break (blue dotted line) that could be a sign of a trend continuation. 1335-40 is the POC zone, and the trend line break is expected if the price closes above 1348. The first target is 1354.47 and continuation above should target 1365.15. A 4h close above 1365.16 should make a breakout move towards M H5 / W H5 1380-84. As long as the price is supported above M L1 around 1319, bulls should be safe.

  • W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
  • W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
  • W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
  • M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)
  • M L3 – Monthly Camarilla Pivot (Monthly Support)
  • M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)
  • POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Gold 4 Hour Chart

Gold 4 Hour Chart

Source: admiralmarkets.com

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