Will 1910-1930 region be the reversal area for Gold?
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3 months ago when Gold was trading around 1500, I published an idea for Gold where I highlighted the 1920 area as the final target for Gold buyers. You can see the idea attached below.
As I predicted, the buyers have managed to push the price beyond 1900.
Now this area could be where the profit-taking begins. So, watch out for bearish price action in the area that I have marked in my chart.
However, do not sell without seeing some bearish price action on the daily or weekly TFs.
If red candles begin to form in this 1920 region, then there's a chance that sellers might be able to push Gold back towards 1600 level in the next 3-4 months.
Now this area could be where the profit-taking begins. So, watch out for bearish price action in the area that I have marked in my chart.
However, do not sell without seeing some bearish price action on the daily or weekly TFs.
If red candles begin to form in this 1920 region, then there's a chance that sellers might be able to push Gold back towards 1600 level in the next 3-4 months.
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