[UK Session] Corrective Wave of Gold in 30 minutes chart
In my previous analysis in US session on gold , price has formed a 5 wave downside move til 1261, and pull back rapidly and stand above 1280 quickly.
Technically, Gold is probably moving in the up corrective wave structure, if u regard 1358-1261 as a major impulse wave. And the structure is about to end near 1303.
Besides, u can find the 200 MA is a supporting area, as well support from rising cloud, long side still hold their fire.
But we can also aware that in Asian session, price created a high point near 1294, and low point in 1286. The crucial level 1292 should be focused.Upside prevails if price break the level quickly.
For other related idea, u can check from below linkages.
Technically, Gold is probably moving in the up corrective wave structure, if u regard 1358-1261 as a major impulse wave. And the structure is about to end near 1303.
Besides, u can find the 200 MA is a supporting area, as well support from rising cloud, long side still hold their fire.
But we can also aware that in Asian session, price created a high point near 1294, and low point in 1286. The crucial level 1292 should be focused.Upside prevails if price break the level quickly.
For other related idea, u can check from below linkages.
