Gold Short term target
While Gold bounced of the Fib level yesterday at 1696 region , it is still is the downward channel and the lower wedge points towards 1676 region and with resistances around 1712, 1717, 1721 and 1727
Though the short term break of the wedge provides an upward movement , it needs to break above 1740 to move out of the channel.
Up until it leaves the downward channel , the short term still point towards 1676 with the interest rate decision of 100 bps is looming around.
Though the short term break of the wedge provides an upward movement , it needs to break above 1740 to move out of the channel.
Up until it leaves the downward channel , the short term still point towards 1676 with the interest rate decision of 100 bps is looming around.
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.