Yesterday, gold recovered from the fall the day before. The market opened near day low around 1850 early in the Asian session and the price has continued to climb. At the US session, it reached the day-high near 1867. The day ended at 1867, up by USD 17.
The pattern has changed much on the 1-hour chart in the last 24 hours. The price is still maintaining its path with the wedge pattern(1). No sign of it escaping the range any time soon, can continue to take advantage of the pattern(1).
The horizontal range 1848-68(2) is still valid. As mentioned yesterday, if the price is not able to escape the range within today, it will stay within 1848-68 for another 2-3 trading days.
S-T Resistances:
1880
1875
1868
Market price: 1865
S-T Supports:
1860-62
1855
1850
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The pattern has changed much on the 1-hour chart in the last 24 hours. The price is still maintaining its path with the wedge pattern(1). No sign of it escaping the range any time soon, can continue to take advantage of the pattern(1).
The horizontal range 1848-68(2) is still valid. As mentioned yesterday, if the price is not able to escape the range within today, it will stay within 1848-68 for another 2-3 trading days.
S-T Resistances:
1880
1875
1868
Market price: 1865
S-T Supports:
1860-62
1855
1850
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To
