GOLD -21/03/2023-
• Gold is soaring as demand for safe haven is rising amid banks turmoil and fear of recession
• Bullish trend dominating but tough resistance is near
• First resistance is 2000 round number
• Second resistance is the 2070 previous high which was rejected twice
• Are we gonna be in a triple top scenario and reverse lower again or make a new high ?
• From a risk reward point of view, it is more rewarding to go short at this level with a stop above 2000-2070 and place a long pending order above 2070
• Bullish trend dominating but tough resistance is near
• First resistance is 2000 round number
• Second resistance is the 2070 previous high which was rejected twice
• Are we gonna be in a triple top scenario and reverse lower again or make a new high ?
• From a risk reward point of view, it is more rewarding to go short at this level with a stop above 2000-2070 and place a long pending order above 2070
Ramzi Abou Abdallah, CFTe, CMT
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.