Gold broke out from the longterm downtrend channel and passed the test for breakout in daily chart. But as of now price is consolidating in a triangular wedge. As we dont have important news we may expect a breakout from this wedge in US session on Wednesday.
Gold may still need confirmation in weekly chart for the yellow bearish channel. Monthly chart is showing that we will have a bullish close. But still we may test levels near 1746 to get enough buying pressure. For all this we need to see which side gold will breakout from triangle.
SELL 1790 SL 1798 TP 1779
Gold may still need confirmation in weekly chart for the yellow bearish channel. Monthly chart is showing that we will have a bullish close. But still we may test levels near 1746 to get enough buying pressure. For all this we need to see which side gold will breakout from triangle.
SELL 1790 SL 1798 TP 1779