GOLD Gold's drop on Wednesday was driven by narrow open interest, which lends to the idea that a recovery could be imminent in the very near term. In this regard, occasional bullish attempts are expected to meet initial resistance around the 1940$ per troy ounce area, an area that coincides with the 100-day SMA.On the downside, a strong resistance is seen near the 1,930$ area, above which the confluence of the 21 and 100 DMA at $1944 will challenge bearish commitments. The next relevant upside target is seen at the psychological 1945$ level.
Gold is now in the 1910 zone. I expect gold to fall slightly, to 1905. Then we will have a beautiful gold buying
GOLD zone at 1905-1908.stop loss around 70pip per trade
Trade active
Trade active
BUY 1905 => 1910. + 50pip✅✅✅
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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.