2021/12/17 07:42 AM – GOLD FUTURES – D1 – DOUBLE BOTTOM !

GOLD FUT – D1 – DOUBLE BOTTOM ! by Ironman8848 on TradingView.com


RSIbullish divergence detected 2 days ago, triggered a trend reversal in making a double bottom formation which has been activated yesterday with the breakout of the trigger level @ 1794.

Technical target of this double bottom formation is @ $ 1835.00

A breakout of the ongoing downtrend line resistance (in red? and also the upside breakout of the clouds would add further support to this bullish scenario.

KS is @ $ 1816.


Currently in a broad double bottom formation in progress and still below the weekly clouds but already above both Kijun-Sen and Mid Bollinger Band .

Watch the clouds (1’828-1’884) as the weekly resistance area and ongoing weekly uptrend line (1785) as support zone , on a weekly closing basis.

Double bottom trigger level on this weekly time frame is @ $ 1’919.– and target would be $ 2’165…

4 HOURS (H4)

Intraday picture is showing the Gold above the clouds, the MBB , the KS and the TS .
Last but not least the Lagging line is above the clouds.

Have a nice trading day and all the best and if you like my analysis, do not forget :

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Take care.

Ironman8848 & Jean-Pierre Burki

Technical analyst Expert since 1991. Member of the Swiss Association of Market Technicians (SAMT).

Disclaimer :

All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

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