Gold Trader Update

May the18th ,2021

Yesterday Gold broke through the congestion area at 1854. It has risen quickly to take out 1866 to challenge our extension target of 1872.

Gold is very much in demand right now and it looks likely to continue higher toward 1880.

There hasn’t been much in the way of corrections in the last day or so except for a half hearted attempt to test support at 1846 yesterday.

However some consolidation is likely soon. You will find support initially at 1864/1866 and if broken a deeper pull back to yesterdays congestion zone of 1854 should be expected.

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Published by Neil Callard

Forex Trader and Educator. 30 years trading experience, of which 20 years was market making in major currencies in large international financial institutions.

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