Dear traders and investors,
Please find the Gold Spot, 1W, analysis that I performed.
From a technical point of view Gold is arriving at a bearish resistance zone. That has historically also reversed from that point creating a long wick candlestick (see April 2023) this time is no different. We see that buyers attempted to get over the MAYOR line of resistance rejected by a long wick candlestick. A long buy entry at 1928 would be a very good entry. Don't forget price has been uptrending for a while entering long short positions now would be risky for my team and myself due to historical price analysis at 'higher time zones' - where big money will attempt to evaluate the return on closing assets vs keeping it (capital & asset allocation strategies)
This is a weekly chart to give the higher overview, dissecting the charts into lower times-frames in order to make scalping profits is our next target to be shared with you.
If you enjoyed the summary, please don't hesitate to follow our page and like & comment.
BridgingBest
Kevin
Please find the Gold Spot, 1W, analysis that I performed.
From a technical point of view Gold is arriving at a bearish resistance zone. That has historically also reversed from that point creating a long wick candlestick (see April 2023) this time is no different. We see that buyers attempted to get over the MAYOR line of resistance rejected by a long wick candlestick. A long buy entry at 1928 would be a very good entry. Don't forget price has been uptrending for a while entering long short positions now would be risky for my team and myself due to historical price analysis at 'higher time zones' - where big money will attempt to evaluate the return on closing assets vs keeping it (capital & asset allocation strategies)
This is a weekly chart to give the higher overview, dissecting the charts into lower times-frames in order to make scalping profits is our next target to be shared with you.
If you enjoyed the summary, please don't hesitate to follow our page and like & comment.
BridgingBest
Kevin