4-Hour Chart Analysis:
Gold has broken out of the $4460-70 supply zone, which has now turned into a short-term dynamic support level. The immediate resistance level is at $4530-4550—the very price range that triggered Wednesday's decline and sell-off.
Trading Strategy:
Buy at $4460-65
Add to your position gradually on pullbacks to $4420-25 (add to your position at this level)
Gold has broken out of the $4460-70 supply zone, which has now turned into a short-term dynamic support level. The immediate resistance level is at $4530-4550—the very price range that triggered Wednesday's decline and sell-off.
Trading Strategy:
Buy at $4460-65
Add to your position gradually on pullbacks to $4420-25 (add to your position at this level)
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.
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.