Gold unable to break resistance, time for a drop?
Overview- Gold has recovered to 1750+ levels but Gold bulls are finding
resistance at the 1755 level and has not been able to break through the resistance.
Analysis - From the chart, you can see that there has been bearish candles
in the resistance level near 1755. Price has not been able to break the resistance so far
which suggests that price may reverse and drop again
Probable trade set-up - Based on this, selling Gold between 1745-1757 with
SL above 1765 and TP at 1700 is a good idea.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.
resistance at the 1755 level and has not been able to break through the resistance.
Analysis - From the chart, you can see that there has been bearish candles
in the resistance level near 1755. Price has not been able to break the resistance so far
which suggests that price may reverse and drop again
Probable trade set-up - Based on this, selling Gold between 1745-1757 with
SL above 1765 and TP at 1700 is a good idea.
Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.