Gold price yielded a weekly close above the all-important 200-Daily Moving Average (DMA) at $1,922 on Friday, opening doors for more gains.
However, Gold buyers need to scale a powerful resistance aligned at $1,1932, the 50 DMA, to confirm a bullish reversal from three-week lows.
The psychological $1,950 level will be next on Gold buyers’ radars. Ahead of that, the downward-sloping 100 DMA at $1,946 could protect the upside.
Alternatively, Gold price could see a pullback toward the 200 DMA at $1,922 if it fails to reclaim the 50 DMA barrier at $1,932. At that level, the 21 DMA coincides.
Set up gold
Gold buy now 1929
Buy limit 1920
Target 1942
Target 1956
Target 1973
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
However, Gold buyers need to scale a powerful resistance aligned at $1,1932, the 50 DMA, to confirm a bullish reversal from three-week lows.
The psychological $1,950 level will be next on Gold buyers’ radars. Ahead of that, the downward-sloping 100 DMA at $1,946 could protect the upside.
Alternatively, Gold price could see a pullback toward the 200 DMA at $1,922 if it fails to reclaim the 50 DMA barrier at $1,932. At that level, the 21 DMA coincides.
Set up gold
Gold buy now 1929
Buy limit 1920
Target 1942
Target 1956
Target 1973
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
Comment:
Hold your buy trades
Comment:
Buy limit 1920 and hold on
Comment:
Gold will fly soon
Comment:
Hold it
Comment:
Let's do good profit
Comment:
30 pips running
Comment:
Keep hold
Comment:
1933 done running 40 pips