12d • Charts + Analysis 📈📊
Gold - Support Line Broken
Date: 22/04/26
Gold over the last month has been slotted in a range and we have been waiting for a breakdown of the rising trend line to help show us that gold is now willing to come to the lower end of the bigger channel and complete its correction.
We've now finally broken that trend line (without triggering our SL) and gold should be looking to make its way to anywhere between 3800 - 4000. This of course is a very strong support zone, an area where we will be looking to go long once price action confirms some kind of a reversal. A further breakdown from this area would indicate that this corrective could go deeper.
Those of you holding any kind of short position our SL remains the same and has been left intact. Those looking to not trade this downward corrective must wait for gold to reach our support zone of 3800 - 4000 before slowly building longs. Once any kind of confirmation is seem at these levels I will share another update on that scenario.
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Gold - Support Line Broken
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