Gold made a breakdown of the support line and broke through the resistance level of 1438. This means that you need to look for long. Enter If the price goes down to the support line or after the buy pattern. Target - resistance level 1471
Great analysis. Very much near my thoughts as per your two possibilities.
There was a quick last spike from 1440 to 1442 in the last 30 seconds of trading from Friday. That could be a sign that we drive upwards to 1450 anytime. If we fall into the 1430s later tonight somewhere, I see it as temporary before a quick road to 1450.
Huge false breakout already occurred at 1402 to give the big money a last ditch effort at the 1400 level for long entries. The fact it remained above 1400 proves this will inevitably be a long bull run.
Targeting 1450 this week then off to the races to 1500.
There was a quick last spike from 1440 to 1442 in the last 30 seconds of trading from Friday. That could be a sign that we drive upwards to 1450 anytime. If we fall into the 1430s later tonight somewhere, I see it as temporary before a quick road to 1450.
Huge false breakout already occurred at 1402 to give the big money a last ditch effort at the 1400 level for long entries. The fact it remained above 1400 proves this will inevitably be a long bull run.
Targeting 1450 this week then off to the races to 1500.