Since 21th of July's low, Gold has risen more than 1000 pips in a clear uptrend. However, the rise from the 1755 low is drawing a rising wedge pattern, and also the price action from this week has put an H&S on our chart.
A new attempt to conquer 1800 failed yesterday, giving us the right shoulder and the idea that bulls may very well be done.
At the time of writing Gold is trading under ascending trend line support (also confirmed by yesterday's high) and exactly in the horizontal support
A break here could lead to a steep drop to important 1740 support.
Interim support is at 1755 (horizontal support and rising wedge's target) and this bearish outlook is negated by a daily close above 1800.
Sell rallies remains my preferred strategy
A new attempt to conquer 1800 failed yesterday, giving us the right shoulder and the idea that bulls may very well be done.
At the time of writing Gold is trading under ascending trend line support (also confirmed by yesterday's high) and exactly in the horizontal support
A break here could lead to a steep drop to important 1740 support.
Interim support is at 1755 (horizontal support and rising wedge's target) and this bearish outlook is negated by a daily close above 1800.
Sell rallies remains my preferred strategy
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📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.