If gold breaks below the uptrend channel, I anticipate a further drop in its value. However, I have identified two specific areas where multiple factors converge, and I will keep an eye on them for potential buying opportunities.
There are several factors that can cause the price of gold to rise:
Supply and demand: Like any other commodity, the price of gold is...
Confluences to short
Resistance level
300 pip move will need to pull back to go higher
US dollar has stopped and starting to reject
New York session
-0.27 weekly bullish fib
15 minute rejection candlesticks
GOLD is struggling hard to break the support 1752. Based on my previous analysis it was going well on Friday 8th oct it showed rejection form 1780-85.
Now there are 2 possibility for you all to open sell order. When price strike to above resistance 1780-85 OR goes below 1750.
Still main trend is down so we are not going to place any buy order. Our target is...
XAU Presents a Pending bearish opportunity toward a bearish pullback towards the daily 62% Fib level at 1802.00 level retracement.
Upon validation, we are able to continue looking for a long position that may break the Monthly resistance at 1840.00, setting buy orders at 1802.00 as this may prove to become a strong demand zone for Price to break the Monthly resistance.
Gold has had a great run, however i believe that we may very well see a slight easing before continuing higher, firstly let's look at some charts.
Gold is below the daily 21 ema - This means that so long as we remain below this level, near-term the bears are in control.
Gold has retraced to the weekly 10 ema - This is healthy within a strong bull market, to...
Hey tradomaniacs,
Gold currently at strong DEMAND-Zone (SUPPORT) and could cause profit-saves for bears and so a higher bullish confluence to retest the previous trendline.
Might be a chance to go long today!
As always make your own analysis and wait for a confirmation!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good...
