Gold still in decision phase
Just few points as swing trading idea.
Gold is still in decision phase. In my idea the long term forecast of the gold is upward. However, at the moment, because of the high volatility in market, it still dose not show the goal clearly.
There are a few import support and resistance level. The $1773 is at the moment import support level. Breaking that will tend to at least $1737. If it goes over $1800 in weekly time frame and stays there, then we can consider it as the beginning of 5th leg of the wave and it should go toward $1900+. In fact the $1830 still play as a strong resistance level.
Please notice this is a personal analysis only and should not be used to make any decision.
Gold is still in decision phase. In my idea the long term forecast of the gold is upward. However, at the moment, because of the high volatility in market, it still dose not show the goal clearly.
There are a few import support and resistance level. The $1773 is at the moment import support level. Breaking that will tend to at least $1737. If it goes over $1800 in weekly time frame and stays there, then we can consider it as the beginning of 5th leg of the wave and it should go toward $1900+. In fact the $1830 still play as a strong resistance level.
Please notice this is a personal analysis only and should not be used to make any decision.
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