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Gold Trend Line Break Expected on a Positive Momentum

April 18, 2018 13:15

Source: Admiral Markets MT5 with MT5SE Add-on

Gold is rejecting POC zone, and soon we might see a trend line break (blue dotted line) that could be a sign of a trend continuation. 1335-40 is the POC zone, and the trend line break is expected if the price closes above 1348. The first target is 1354.47 and continuation above should target 1365.15. A 4h close above 1365.16 should make a breakout move towards M H5 / W H5 1380-84. As long as the price is supported above M L1 around 1319, bulls should be safe.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 - Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

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