GOLD Gold price struggles to capitalize on the previous day's goodish rebound from the 1,930$-1,935$ area, or its lowest level since March 17 and oscillates in a narrow trading band through the Asian session on Friday.Gold prices have displayed a breakdown of key support drawn from the March 22 low at 1,935$ on a four-hour scale. The precious metal tested the zone below 1930$ for the first time in three months.
The 200-period exponential moving average (EMA) is declining at 1968$ indicating that the long-term trend is bearish.
The Relative Strength Index (RSI) (14) has slipped into a falling range of 20.00-40.00, which suggests bearish momentum has been triggered.
I expect a strong bounce in
GOLD around the 1977-1980 zone. Then we will have a very good buy GOLD signal in 1954-1958 zone. My expectation when GOLD falls will be around 1970Stop loss around 70pip per trade signal
Trade active
BUY 1954 => 1963. +90pips✅✅✅✅Keep winning everyone
Trade active
Gold is recovering, but rest assured that gold will return to its trajectory
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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.