Unlike last week’s analysis, the latest analysis shows that t2 has not been completed. With the current market data, the main trend remains upward. But last week, a sideways zone formed between 2470-2530. This week, we will wait for the gold price to recover around 2490 and keep following the trend.
Typically, in an uptrend, if there’s a sideways accumulation zone after a certain period, the price will break out and keep going up. Don’t mistake this for a reversal pattern or signal.
By checking the trend from larger time frames and then looking at smaller ones, and combining analysis across different time frames with effective risk management, you’re ready to earn sustainable profits.
Wishing all investors intelligent and effective investment strategies! And stay tuned for the next gold price updates.
By. Pham Thanh Bien
