Gold looking to close bearish candle this week
Updated
Sentiment: Bullish (at the moment)
Action: Waiting for H1 to confirm for short entries.
Target: 1929.1830
Prices has shown strong uptrend in the past 2 weeks with previous 2 weekly candle closing strong. Gold expects to close with bearish candle this week to retreat some of the gain from last week and 27 Oct (Friday) might poise to be a strong turning point towards the red.
Sign of reversal has start to be shown on H1 with strong reversal hammer at $2000 resisted at whole number and failed to break out. Prices is trying to form consolidation with 1982 serves as a key level. If price break strongly below, the market will be favoured for shorts.
On H4, indication shows bullish signal , any spike down in prices is a quick opportunity to buy. Bear can only come in upon H1 shows bearish indication.
D1 has shown gapped up at 1830, as such with an extended run to 2000, Gold is expected to retrace the gain and close back the gap. Trend at D1 still bullish.
Action: Waiting for H1 to confirm for short entries.
Target: 1929.1830
Prices has shown strong uptrend in the past 2 weeks with previous 2 weekly candle closing strong. Gold expects to close with bearish candle this week to retreat some of the gain from last week and 27 Oct (Friday) might poise to be a strong turning point towards the red.
Sign of reversal has start to be shown on H1 with strong reversal hammer at $2000 resisted at whole number and failed to break out. Prices is trying to form consolidation with 1982 serves as a key level. If price break strongly below, the market will be favoured for shorts.
On H4, indication shows bullish signal , any spike down in prices is a quick opportunity to buy. Bear can only come in upon H1 shows bearish indication.
D1 has shown gapped up at 1830, as such with an extended run to 2000, Gold is expected to retrace the gain and close back the gap. Trend at D1 still bullish.
Note
Prices has risen above 2000 and back down to previous strong H1 resistance at 1990, Gold price expect to fall to 1960.74, before further downward to 1929.Sentiment: Weak bullish (waiting for D1 to break below 1960)
Note
1929 (Target Hit)Price Retracement for 1960.
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