Golden Opportunity!

Dear Dynamic Traders,


Hope you are having a good week so far.

Not a usual forex analysis though one of interest nonetheless. The major trend for Gold has been up. It has now reached close to a momentous price target of 1000, not only is this a massive figure, it's also a strong previous resistance level, and it has only managed to breakthrough this level once for a short distance before retreating.















Though the MACD on the weekly chart shows continued strength, it is worth noting that the Daily shows much longer term MACD divergence. So what is likely to happen? No one knows, nor do we need to know! Price may break through resistance in which case we will await a BOB and apply ESLT for entry. Alternatively, price may decide to take a breather and consolidate or retrace given it has been going uphill for a while. In either case we will be prepared to utilise the opportunity when it presents itself with the confluence of events.














Good Trading!
Bijal Shah

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