Gold: June 19 review (Intraday and STBT strategy for Gold)
Gold: June 19 review (Intraday and STBT strategy for Gold)
-2% in Gold......and -3% in Silver......down from current level....and wait below S1 in Gold before today's closing/next week....
Fundamental Review:
Safe heaven demands like Gold and Silver prices rise due to increase the number of Covid-19 cases in China and US.
Gold and Silver prices volatile now a days because of global fears and uncertainty of the economy.
Gold and Silver prices increased more than 3% and 6% respectively in last four sessions. While on the other side US Dollar Index prices made a high $97.703 range(last 10 day's high) today against basket of major currencies.
US Dollar and Gold prices traded opposite directions at this type of situations.
By 1115 AM ET, Gold futures, August prices was traded almost monthly high @1760.10 range, up +1.68%.
Expectation of profit booking will come very soon in precious metals.
Technical Review:
Above $1760.10 range, we will expect $5 up trend in Gold, but for trading point of view keep max resistance level $1788.80 and short precious metals at every high levels.
And on the down side, we will expect more than -2% down in Gold($1724.80) range, and if prices break below this level, we will see $1717.30 and $1706.20 also.
But for long term strategy(Max 12-15+ days) in Gold, we will expect more than -$100 negative trend from the current level.
Intraday and STBT(Next week) strategy for Gold is given below....
Entry point - $1760.10 - $1762.50 range
And keep R1 $1788.80
And wait S1 $1728.30
And wait S2 $1717.30
And wait S3 $1706.20
Disclaimer-Trading in gold and silver market are subject to market risks. We doesn’t bear any responsibility for any trading losses.❤️
-2% in Gold......and -3% in Silver......down from current level....and wait below S1 in Gold before today's closing/next week....
Fundamental Review:
Safe heaven demands like Gold and Silver prices rise due to increase the number of Covid-19 cases in China and US.
Gold and Silver prices volatile now a days because of global fears and uncertainty of the economy.
Gold and Silver prices increased more than 3% and 6% respectively in last four sessions. While on the other side US Dollar Index prices made a high $97.703 range(last 10 day's high) today against basket of major currencies.
US Dollar and Gold prices traded opposite directions at this type of situations.
By 1115 AM ET, Gold futures, August prices was traded almost monthly high @1760.10 range, up +1.68%.
Expectation of profit booking will come very soon in precious metals.
Technical Review:
Above $1760.10 range, we will expect $5 up trend in Gold, but for trading point of view keep max resistance level $1788.80 and short precious metals at every high levels.
And on the down side, we will expect more than -2% down in Gold($1724.80) range, and if prices break below this level, we will see $1717.30 and $1706.20 also.
But for long term strategy(Max 12-15+ days) in Gold, we will expect more than -$100 negative trend from the current level.
Intraday and STBT(Next week) strategy for Gold is given below....
Entry point - $1760.10 - $1762.50 range
And keep R1 $1788.80
And wait S1 $1728.30
And wait S2 $1717.30
And wait S3 $1706.20
Disclaimer-Trading in gold and silver market are subject to market risks. We doesn’t bear any responsibility for any trading losses.❤️
and wait below S1 $1728.30 range this week.