Hello traders, we are approaching a key level in Gold.
Price is now within the moderate supply zone.
The area between 1945-1952 would be the one to watch out for.
In case of bearish price action in this level, traders can consider
selling with 1880 as the target. Potential entry would be
between 1945 to 1952.
Keep in mind that if price breaks strongly through this zone, then
we will see a continuation of the uptrend
Price is now within the moderate supply zone.
The area between 1945-1952 would be the one to watch out for.
In case of bearish price action in this level, traders can consider
selling with 1880 as the target. Potential entry would be
between 1945 to 1952.
Keep in mind that if price breaks strongly through this zone, then
we will see a continuation of the uptrend
Note
Price still in the zoneNote
We have a hourly rejection candle in the zoneNote
4H hour bearish candlestick formed. Let's see if price moves below 1940
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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.
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.