Hey Everyone,

The Daily Goldturn structure has now delivered the move we have been patiently tracking.
Over the last few updates, our main focus was whether Gold would reject the outer floor of our Goldturn Channel or gradually work its way higher and eventually break back inside the channel. We have now seen that second scenario play out, with price successfully pushing back into the channel.

More importantly, we have now seen a Daily close above the 4235 Goldturn, which is a significant technical development. This has shifted our attention away from the lower 3974 support and opened the next long-range range above.

4485 LONG-RANGE GAP NOW OPEN
With 4235 reclaimed and price back inside the Goldturn Channel, we now have a long-range gap open at 4485, making this our next major upside target.

As always, this does not mean price has to travel there in a straight line. We will continue to use the Goldturn levels within the range for support, retracements and reactional bounces. However, while price maintains the break above 4235, 4485 remains firmly on our radar.

This is exactly why we continued to track the original Goldturn Channel even while price was trading outside of it. The structure remained relevant, and the possibility of Gold reclaiming the channel was highlighted well in advance.

Our long-term bullish outlook remains unchanged, and we will now monitor how price develops inside the channel as it works through this newly opened range.

As always, we'll continue to monitor the price action and keep you all updated.

Mr Gold