Gold has been stuck within 3300 and 3340 for a while. Yesterday after it reached 3347, it quickly dropped and closed the day below 3340. I could see the deceleration of bullish momentum. Currently 12hrly TF also prints a bearish candle. Therefore, I am switching my midterm view to bearish right now.
I am expecting the price to test 3340 again today and watch the price action at this resistance. If it holds, I will sell towards 3290. My ultimate target for today is 3250.
I am expecting the price to test 3340 again today and watch the price action at this resistance. If it holds, I will sell towards 3290. My ultimate target for today is 3250.
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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.