We had seen gold consolidating in a sideways direction for around 2 weeks, and had tried to give breakout above the bearish trendline, but for it the confirm the reversal we need decisive breakout and sustenance above the level of 4230.
Looking at the structure it seems like the continuation on the bearish direction would be an easier option for gold if it give the breakout below 4168 citing trend failure, and the structure alignment of overall price action.
Immediate resistance is at 4230 and immediate support is at 4167 and below that 4066 is ultimate support.
For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.
Regards CrazyTrades247.
Looking at the structure it seems like the continuation on the bearish direction would be an easier option for gold if it give the breakout below 4168 citing trend failure, and the structure alignment of overall price action.
Immediate resistance is at 4230 and immediate support is at 4167 and below that 4066 is ultimate support.
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.