Price gave breakout above the level of 4045 on Friday & has retested the level of 4097 which is acting as an immediate resistance for the gold, if broken we can consider taking long positions, 4035 is acting as immediate support and price trying to find some strength at that level.
Trendlines should be noticed, bearish trendline broken on Friday and now it seems like price is respecting bullish trendline, price might retest the bullish trendline before showing it's continued up-move.
summary: Mostly sideways move is expected, Wait for breakout for fresh entries. Cautious selling.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
Trendlines should be noticed, bearish trendline broken on Friday and now it seems like price is respecting bullish trendline, price might retest the bullish trendline before showing it's continued up-move.
summary: Mostly sideways move is expected, Wait for breakout for fresh entries. Cautious selling.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
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Join Telegram Channels for more Trades ideas 🧿
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
🟢For Forex and International Commodities
t.me/CrazyTrades247_FX_International
Connect us
+91-9238387447
crazytrades247@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.