Looking at the current gold market, it is quite visible that the market is currently below our 200 EMA. This break of a dynamic level such as the 200 EMA indicates a possible change in the market MOOD. Nevertheless, we can not conclude the overall direction because this break below the 200 EMA might be a fake out. we should wait for a retest at the 200 EMA level and there we would decide if we should join the sellers in the market. Also, it is quite evident that the NFP is coming this week and the continues talks between the Russian and Ukrainian government continues, So I believe we should wait for a new sentiment Please tell me what you think in the comment section..
NOTE:
MR means Major Resistance
CP means Confluence Point
NOTE:
MR means Major Resistance
CP means Confluence Point
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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.