Smart investment, Strong finance
GOLDEN INFORMATION:
Gold experienced a decline in value for the second consecutive session on Tuesday, primarily due to a decrease in open interest. This decline is expected to contribute towards a potential rebound in the near future. Currently, the $1900 range is presenting strong resistance and remains an important point of contention at this time.
Personal comments NOVA:
With the good news for the dollar, leading to the gold price losing value in August. The buying force is quite weak compared to the sellers, predicting the price will still decrease this week.
SET UP GOLD PRICE:
SELLGOLD zone: $1935 - $1937 SL $1945
TP 1: $1925
TP2: $1910
Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest