Gold price action update 08/02/2023
The price is about to end its consolidation period of five days today before becoming bullish and move upwards.
The 50 MA has proven as consistent support for the price action during its consolidation state.
The volume also doesn't support the break-out as yet.
Watch for the break-out and buy trade can be attempted after the price crosses the stage of 1889-90
with SL below the immediate HL and TP at 1909-10.
The 50 MA has proven as consistent support for the price action during its consolidation state.
The volume also doesn't support the break-out as yet.
Watch for the break-out and buy trade can be attempted after the price crosses the stage of 1889-90
with SL below the immediate HL and TP at 1909-10.
Comment:
The price action is behaving in the same manner as predicted!!!!!!