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Wednesday, 23 October 2019

Updated Multi-frame Technicals on Gold: 23 October 2019, 10.22pm Singapore Time

Updated Multi-frame Technicals on Gold:
23 October 2019, 10.22pm Singapore Time
(Click on the Technical Chart Above to Expand)

Attached is the Updated Gold Multi-frame Technicals on Gold. On the 15 minute chart, gold is supported with deliberate efforts by the market smart monies: Bullish. On the Hourly Chart, it has just achieved critical breakup and had done its critical backtest: Bullish. On the 4-Hourly Chart, it is undergoing the critical longer time framed breakout for a large move up in the 4H Timeframe. In the Daily Chart, it shows Gold backtesting the long term support band of moving averages using a bullish rounding technical price structure which means deliberate re-accumulation and that the large move up for Gold would be highly reliable. Gold is ready for next wave up to the guaranteed $1550-$1600 band. When this band is made support, a break up above $2000 is guaranteed as well.

The Donovan Norfolk Technical Rating:
Bullish immediate term, short term, mid term and long term -- all 4 time frames.


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