Gold once again rejected by 1900 yesterday. The uplifting momentum has slowed down after the price escaped the S-T support line(1) in the Asian session. Price sank below 1895 and the day ended at 1891.
The S-T trend has shifted from upward to horizontal. Before a new S-T trend is formed, the price should trade between 1880-1910(3).
Gold maintains its path with 1890-1910 on the daily chart(4). S-T high/low are now set at 1880/1903.
S-T Resistances:
1908
1900
1895
Market price: 1893
S-T Supports:
1890
1884
1880
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The S-T trend has shifted from upward to horizontal. Before a new S-T trend is formed, the price should trade between 1880-1910(3).
Gold maintains its path with 1890-1910 on the daily chart(4). S-T high/low are now set at 1880/1903.
S-T Resistances:
1908
1900
1895
Market price: 1893
S-T Supports:
1890
1884
1880
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
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