GOLD Whats next After it reached it 2670?
Updated
GOLD: What's next after it reached 2670?
From our yesterday's analysis GOLD reached two of our targets by creating a new all time high near 2670.The war between Israel and Lebanon just began and it will not make the things better. Despite the fact that gold is taking a pause is because of the fear from the unknown because all this situation is getting ridiculous .Not we are watching only which will be the next country in the list for Israel to attack for the gold price to rise further. Given that the current situation is not good at all and the situation from the media source is expected to escalate further we should not expect any deep pullback from Gold.
Every price decline now will be a buy opportunity on deep or small pullbacks.
On the other hand the market is still speculating about FOMC and interest rates and the effect it has on gold but if we take the past in
consideration it doesn't make sense at all to be involved in gold price in my opinion gold price is more manipulated rather than it is growing from normal market participants but this is another topic.
Technical Analysis;
A normal correction before Gold Moves up To 2700 could be near 2637.50 a deep correction before Gold Moves to 2700 could be near 2617.00
It's a big reversal zone overall but it can be tested profits.
You may find more details in the chart.
PS Support with like or comment if you find this analysis useful for your Trading day ❤️
From our yesterday's analysis GOLD reached two of our targets by creating a new all time high near 2670.The war between Israel and Lebanon just began and it will not make the things better. Despite the fact that gold is taking a pause is because of the fear from the unknown because all this situation is getting ridiculous .Not we are watching only which will be the next country in the list for Israel to attack for the gold price to rise further. Given that the current situation is not good at all and the situation from the media source is expected to escalate further we should not expect any deep pullback from Gold.
Every price decline now will be a buy opportunity on deep or small pullbacks.
On the other hand the market is still speculating about FOMC and interest rates and the effect it has on gold but if we take the past in
consideration it doesn't make sense at all to be involved in gold price in my opinion gold price is more manipulated rather than it is growing from normal market participants but this is another topic.
Technical Analysis;
A normal correction before Gold Moves up To 2700 could be near 2637.50 a deep correction before Gold Moves to 2700 could be near 2617.00
It's a big reversal zone overall but it can be tested profits.
You may find more details in the chart.
PS Support with like or comment if you find this analysis useful for your Trading day ❤️
Trade closed: target reached
Congratulation Traders Target Reached Gold will Touched 2685.00 Be Happy and Guys Be Sure To Fallow me.
JOIN MY TELEGRAM CHANNEL
t.me/+f1Us-87EPS43Mzg0
🟢 Join Free Telegram Channel
t.me/+f1Us-87EPS43Mzg0
t.me/+f1Us-87EPS43Mzg0
🟢 Join Free Telegram Channel
t.me/+f1Us-87EPS43Mzg0
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.