InvestingScope
Long

XAUUSD: Testing the 1D Support Zone. Potential rebound.

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold is again testing the 1,276.50 - 1,281 1D Support Zone , the fourth attempt since January 21st. 1W is now neutral ( RSI = 51.224, ADX = 43.282, MACD = 9.820) prompting to a rebound. We can't yet know the exact long term trend on Gold as although the 1,360 - 1,370 1W Resistance hasn't been crossed yet, the bullish trend is intact and for now well supported. We believe that traders with a medium term mindset will get the most out of the next few weeks between the 1,276.50 - 1,281 1D Support Zone and the 1,324.45 - 1,326.20 Resistance Zone . The Lower Highs on 1D are pressing downwards but the buying accumulation on the 1D Support Zone remains stronger.






** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality signals (http://www.investingscope.com) for live buy/sell opportunities on a variety of financial assets.
I believe that's enough for Gold Uptrend as trends come every quarter, I think maximum 1293 before the drop. Thus, 1324 is lower high key level for downtrend formation (Dow Theory based).
Reply
down trend
Reply
I don't think it will bounce off that high... I would say 1287 $ maximum. At that level I would short even more
Reply
lucamodena lucamodena
@lucamodena, ok 1293 $ tops ;)
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out