GOLD Gold prices failed to attract any buyers or rose overnight from multi-month lows. The big belligerent central banks continue to act like a headwind on unprofitable commodities. The US Dollar stands at highs near two-week highs and also contributes to the limitation of GOLD.Technical indicators on the 4-hour chart suggest more consolidation, as long as the price remains in the 1,910$/$1,905$ range, with downside risk of price staying below the 20 Simple Moving Average (SMA) period. A bounce above 1910$ could refuel the recovery, paving the way towards 1915$, with the next resistance at 1920$. A drop below 1,905$ would expose the June low of 1,890$, with the next support at 1,880$.
Based on the above, I think we can buy
GOLD around 1904$, because gold is at the bottom of the week and there are support zones just below my entry points. So the buy signal at this time is very reasonable, I believe my signal will help you make money.Stop loss around 70pip for every signal you trade, wish we make money and win the market
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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.