TVC:GOLD Gold prices rallied to renew intraday highs near 1,965$ in the early hours of the Asian session on Thursday as the US Dollar retreated along with hopes of the passing of the US debt ceiling bill. Passed by the House of Representatives.
XAU/USD is up for the fourth day in a row, but gains remain modest. The daily chart shows the pair trading between the flat 100 Simple Moving Average (SMA), providing support at around 1936$, and a bearish 20 SMA, currently around 1980$. Meanwhile, technical indicators remain negative, heading north with limited upward strength.
I expect a bounce from 1965 to 1970 and we will sell TVC:GOLD together around the 1968$-1970$ zone
Stoploss: 1980
The level I expect TVC:GOLD to return is 1963$, 1958$, 1950$
I hope everything goes according to plan and you make a lot of money
Trade active
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I expect a slight bounce and will go with my prediction