Gold fell another USD39 yesterday with a day-low touched 1767. The daily range was just like the day before with the day-high & day-low USD60 apart. It remains a one-way downtrend on the 1-hr chart, and a bottom has yet to form. The current rebound has begun from 1770, (1) & (2) should be the target for now.
Gold has completed the M-T 0.382 retracement(3) yesterday on the daily chart. The 100 days MA(4) should be the resistance for the current rebound from 1770. Still waiting for a bottom to be confirmed, and the price should bound between 1770-95 for today.
S-T resistances:
1800
1795
1790
Market price: 1788
S-T supports:
1780-82
1775
1750
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
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Gold has completed the M-T 0.382 retracement(3) yesterday on the daily chart. The 100 days MA(4) should be the resistance for the current rebound from 1770. Still waiting for a bottom to be confirmed, and the price should bound between 1770-95 for today.
S-T resistances:
1800
1795
1790
Market price: 1788
S-T supports:
1780-82
1775
1750
Please give us a thumbs up if you like our ideas. Leave us a comment and share your thoughts.
P. To
P. To
