Gold is currently oscillating between the 61.8% and 78.6% Fibonacci retracement levels (3945-4136), but trading volume remains weak. A further rise followed by a fall back to the 50% Fibonacci retracement level of 3811 cannot be ruled out. Stronger support lies nearby, at the 89-day moving average of 3753. This means the short-term correction is not yet over. Today, the key resistance level to watch is 4060-70, with a smaller resistance level at 4020.
Intraday Short-Term Trading Strategy:
Primarily sell on rallies, with buying on dips as a secondary strategy. Support levels to watch are 3979, 3936, and 3882.
Intraday Short-Term Trading Strategy:
Primarily sell on rallies, with buying on dips as a secondary strategy. Support levels to watch are 3979, 3936, and 3882.
The road to success is not crowded. As long as you choose the right direction and follow the right team, you will be able to move forward.
t.me/david_456654
t.me/david_456654
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The road to success is not crowded. As long as you choose the right direction and follow the right team, you will be able to move forward.
t.me/david_456654
t.me/david_456654
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.