On the 1H chart, the MACD is showing a bullish divergence, signaling a potential bottom. If gold can build a base around 2960-2980, bulls will have the upper hand from a technical standpoint.
While today's major macro news will hit during the U.S. session, technical analysis dominates the Asian and European sessions — which favors a buy-on-dip strategy.
The 3030 resistance, which wasn’t tested yesterday, may be reached today.
If the price drops unexpectedly, watch the 2946-2928-2916 zone for new buying opportunities — especially 2928-2916, which is a strong support zone.
Buy:2960 - 2980
TP:3004 - 3028
While today's major macro news will hit during the U.S. session, technical analysis dominates the Asian and European sessions — which favors a buy-on-dip strategy.
The 3030 resistance, which wasn’t tested yesterday, may be reached today.
If the price drops unexpectedly, watch the 2946-2928-2916 zone for new buying opportunities — especially 2928-2916, which is a strong support zone.
Buy:2960 - 2980
TP:3004 - 3028
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Gold has risen, congratulations to everyone, you have made a profit
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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.