Gold made a high of 1865.5 on last week. Now there is a lot of selling pressure and today morning though there was very high volume in 15 mins chart the candle size is not affected making the price reach just 1858. This shows the bearish pressure above this.
So for today we can have local resistance as 1858 and go for short trades from here with SL at 1868.
I am bearish today until prices breaks the previous HH 1866 and makes new high.
Today there are three important levels 1852-1840-1828
Let us see which level supports gold if bears show more power.
If prices start rising then 1877 can act as resistance. Above this 1900 is target.
Here are my trading suggestions for today
SELL 1858 SL 1868 TP 1800 (long term)
SELL 1864 SL 1868 TP 1852 (scalp)
So for today we can have local resistance as 1858 and go for short trades from here with SL at 1868.
I am bearish today until prices breaks the previous HH 1866 and makes new high.
Today there are three important levels 1852-1840-1828
Let us see which level supports gold if bears show more power.
If prices start rising then 1877 can act as resistance. Above this 1900 is target.
Here are my trading suggestions for today
SELL 1858 SL 1868 TP 1800 (long term)
SELL 1864 SL 1868 TP 1852 (scalp)