- Quite a run on gold
- Left a lot of inefficiencies behind
2 potential targets annotated on the chart
Gold can take its sweet time to accumulate shorts
This week will be interesting, potentially choppy
Daily reversal candle after a breakdown on a daily chart. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
For your Study only
If Sustain above 2348.8 then 2354.9 to 2357.6 above this bullish movement then 2365 to 2367.7 then 2379.1 to 2381.8 then 2391.3 to 2395.4
If Sustain below 2340.9 then 2333.4 to 2330.7 below this bearish then 2319.5 to 2316.8 then 2302.1 to 2298.1
Consider some buffer points in above levels.
Please do your due diligence before trading or...
the gold market this year has essentially only seen upside. since all time highs theres been a run on available contracts during a contraction that has ended suddenly.
it appears that todays rally has been sustained, and the uptrend in futures has all but resumed according to a credit liquidity crunch and bear dollar environment.
according to tv alerts, forex...
if Sustain above 2339.1 to 2341.6 then 2346.2 then 2350.9 to 2357.7 strong level then 2362.4 to 2369.2 above this bullish
if Sustain Below 2328.1 then 2324.1 to 2323.2 then 2316.4 below this bearish then around 2300.2
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI...
COMEX:GC1!
"Never give up! Failure and rejection are only the first step to succeeding." -Jim Valvano
This is perfect play for a high probable trade to go LONG!!!
Check out the Chart Link below where I breakdown the reason being why I think the market will take off LONG...
Remember when it comes to FRM (Financial Risk Management) our Job is to manage the...
Precious Metals have softened recently after continued liquidation, stop-loss selling, and de-grossing pushed Gold futures down to a value zone of $2300/oz on the June futures contract. Since then, bargain hunters have stepped in, driving futures $30 off their lows.
The potential for a strong recovery in gold is on the horizon, especially if miners strengthen and...
Levels to watch if comes (if does not come to this levels ignore this comment) around 2304.6 to 2297.0 or 2290.4
if Sustain above 2343.2 or 2343.6 then 2343.6 to 2348.8 then 2354.7 above this bullish then 2359.4 then 2366.2 then 2371.1then 2376.4
if Sustain Below 2336.4 then 2328.5 then 2323.2 to 2320.2 below this bearish then 2313.4 then 2304.6 to 2302.1 then...
Good Evening and I hope you are well.
Gold
comment: Tough spot to trade imo. Different time frames tell different stories here. Daily had a big reversal and closed above the 20ema. 4h says it’s a small pullback from a potential W1 of a bear trend and on the 1h chart we could argue that market formed a nice double bottom and we trade back to the weekly high...
