Gold may drop more after breaking below $1760
Initially, gold has dropped below the long-term trend line starting from August. But we need more confirmation for long-term sell because $1760 identifies strong support.
After breaking below $1760, our first target is $1750, the next target is $1720/1725, and the final target to the downside is $1680/1685. Testing $1720/1725 or below $1680 needs positive US economic reports, especially today's NFP.
On the other hand, if the market breaks above $1800, it may continue its uptrend.
Gold Sell Stop: 1760
SL: 1800
TP1: 1750
TP2: 1725
TP3: 1685
Note: If NFP Positive
Gold Buy Limit: 1685
SL: 1650
TP1: 1720
TP2: 1760
TP3: 1800
TP4: 1830
Note: This signal is valid after the 15th of December
After breaking below $1760, our first target is $1750, the next target is $1720/1725, and the final target to the downside is $1680/1685. Testing $1720/1725 or below $1680 needs positive US economic reports, especially today's NFP.
On the other hand, if the market breaks above $1800, it may continue its uptrend.
Gold Sell Stop: 1760
SL: 1800
TP1: 1750
TP2: 1725
TP3: 1685
Note: If NFP Positive
Gold Buy Limit: 1685
SL: 1650
TP1: 1720
TP2: 1760
TP3: 1800
TP4: 1830
Note: This signal is valid after the 15th of December
Forex Signals:
t.me/Goldtradingexpertfree
Youtube:
youtube.com/channel/UCMRAU6KDZOro-KmFFSKlfYA
Linkedin:
linkedin.com/company/investor-tipster
Website:
investortipster.com/
t.me/Goldtradingexpertfree
Youtube:
youtube.com/channel/UCMRAU6KDZOro-KmFFSKlfYA
Linkedin:
linkedin.com/company/investor-tipster
Website:
investortipster.com/
Related publications
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.