GOLD Currently, gold has a clear trend for a pennant pattern in favor of buyers.That said,
GOLD marked a higher low and received support from the ascending RSI, forming a higher low on the oscillator thereby confirming the market's ascending trend towards the metal. yellow.Therefore,
GOLD is well-established to challenge the top line of the stated trading range, near 1975$. However, breaking that looks tough as multiple hurdles build up challenging Gold buyers around the 2,000$ psychological magnet.On the downside, a daily close below the 100-DMA support around 1,945$ despite the bullish histogram signals and could drag Gold Price towards the 1975$-1980$ support area, including the levels assessed. stamped in February and March 2023.
After gold appeared a pennant pattern in favor of buyers, I consider a buy
GOLD contract around the area 1958$-1962$Stop loss is 100pips for every order you trade
Note: Set SL and profit base to close, hope we will win big together
Trade active
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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.