GoldViewFX - Daily LEVELS & TARGET$

Jan 16, 2022

1818 is a strong Goldturn resistance level on the Daily chart.

Historically this level has held well and each time it failed to cross, we saw price come down to find support. We can now see EMA5 sitting on 1818 ready for another challenge and this challenge is significant for us to see if EMA5 is able to cross this level.

I have drawn a Goldturn trendline support showing the higher lows, which changes the dynamics of this challenge and looks like its gearing above for a break above this level. We may see another drop but only to find support at 1800-1806 range to then retest 1825 and potentially a break above.

Should this level fail and price drop, we will continue to buy from dips unless we see EMA5 break below 1778 on the daily chart. This break will change the bullish structure, in which case we will then look to change our setups and, as always, we will update any changes to our plans if this happens.

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GoldViewFX
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