GOLD - Only each day shut above 1730 would change this mid-term
As virtually everybody has anticipated, Gold reversed from 1680-1690 zone help and now could be buying and selling 200 pips above this essential zone.
However, for my part, this isn't a reversal of the leg down from above 1800 began in mid-August, however only a correction.
Looking at the posted chart we will see that above 1720 is a robust confluence resistance given by the outdated horizontal help and the falling trend line and right here merchants should search for promoting alternatives.
Only each day shut above 1730 would change this mid-term bearish outlook.
However, for my part, this isn't a reversal of the leg down from above 1800 began in mid-August, however only a correction.
Looking at the posted chart we will see that above 1720 is a robust confluence resistance given by the outdated horizontal help and the falling trend line and right here merchants should search for promoting alternatives.
Only each day shut above 1730 would change this mid-term bearish outlook.
Trade closed: target reached:
excellent profitable result.