Hi guys, I'm back with fresh analysis on gold.
if you haven't check my last analysis please do, price moved up from 2281 level for more than 700 pips. which was amazing.
Major institutions are still long on gold(based on COT data) and is still making new highs, so buying on demand levels is sensible.
First level is 2330 which is a broken resistance now acting as support also around level 2328 there is a tiny demand level, beneath that 2318 and last but not least 2308- 2302.
once price reaches these levels you could take long trades with confirmation on lower time frame.
And for those who want to take short trades 2346-2350 would be our supply zone but be really careful with shorts since fundamentals are bullish.
* As always add your intuition and logic into this and do consider risk management.
*Be honorable
if you haven't check my last analysis please do, price moved up from 2281 level for more than 700 pips. which was amazing.
Major institutions are still long on gold(based on COT data) and is still making new highs, so buying on demand levels is sensible.
First level is 2330 which is a broken resistance now acting as support also around level 2328 there is a tiny demand level, beneath that 2318 and last but not least 2308- 2302.
once price reaches these levels you could take long trades with confirmation on lower time frame.
And for those who want to take short trades 2346-2350 would be our supply zone but be really careful with shorts since fundamentals are bullish.
* As always add your intuition and logic into this and do consider risk management.
*Be honorable
Comment:
market missed the 46 level by 20 pips and dropped all the way.
Comment:
Price reacted to level 18 more than 100 pips has been gained
Comment:
200 pips has been gained from level 2318
Comment:
400 pips has been gained from 2318 level
