The largely overbought 1D technical state of Gold (RSI = 72.715, MACD = 33.680, ADX = 69.728) leaves the price unaffected as it continues to rise having formed a new 'January' Channel Up, following that of December.
Every Low to High has been so far +3.19% and as such we are long aiming at 1,955. If the Channel Up breaks to the downside, we will short below the 4H MA50 and target the Support at 1,870. The 4H MA100 that offered support during the December Channel Up is the next sell level, if breached, we will target 1,840 expecting a contact with the 4H MA200.
The last Support is at 1,823, potentially the long term zone for the next group of buyers as this is where the 1D MA50 is headed to.
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Every Low to High has been so far +3.19% and as such we are long aiming at 1,955. If the Channel Up breaks to the downside, we will short below the 4H MA50 and target the Support at 1,870. The 4H MA100 that offered support during the December Channel Up is the next sell level, if breached, we will target 1,840 expecting a contact with the 4H MA200.
The last Support is at 1,823, potentially the long term zone for the next group of buyers as this is where the 1D MA50 is headed to.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
## Also DONATIONS through TradingView coins help our cause of increasing the daily ideas put here for free and reach out more traders like you. ##
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.