Monday, May 10, 2021 6:37 AM EDT
Gold (GLD) has turned bullish last week and I expect continuation towards higher levels in the week ahead.
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We can spot double trend line confluence and the price consolidating in the zone before a breakout to the upside. We should see a move to the upside off 1830-33 zone. Targets are 1840, 1845, 1852 and 1864. We see a bullish zigzag in the 15 min time frame so intraday traders might be looking for buying opportunities.
The Analysis has been done with the Black Widow system.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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