Dear Traders, The Gold has made a nice breakout above 1480 zone, continuing exactly as planned. I have warned many times that Gold is bullish and that buying the dips is what investors and traders do now.
1475 zone looks very supportive. We see ascending trend line and a potential for ascending scallop pattern. Higher time frames are also bullish and we should see another attempt to proceed further up towards 1490 and 1493. If the price manages to close above 1493, then 1500 is next.
At this point its all about bulls. We might see a retracement down, but IMO, the price will be bought on dips again.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips, Nenad Kerkez aka Tarantula FX
Elite CurrenSea
