Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Goldπͺ
The monthly timeframe on Gold is still looking quite bullish considering that Gold is currently retesting the 0.382 fibonacci retracement level in confluence with support at the $1930 level.
On the weekly timeframe you can see that Gold is already starting to reject previous weekly resistance which - after the break above - was of course turned clear support.
And with Gold being up almost 1.5% today we are now creating bullish market structure again; therefore I am simply waiting for any kind of retracement to enter a long on Gold and to capialize on the next major bullish impulse.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprintπ
Thank you for watching and I will see you tomorrow!