Gold ready for Sell-off in 1957/73 zone for targets 1925/12/02
Updated
1. Gold has reached Daily supply zone 1957-73
2. 1960 is also the lower end of long term Weekly supply zone.
3. Gold is also near the top of the descending channel from May 2023 high 1981.82
4. Fall in DXY and drops in US yields did not lead to growth in Gold today.
Sell in the 1957-1973 supply zone for :
Short term targets - 1925/1912/1902
Medium term target - 1855
Please boost the idea, comment if you like any part of it.
For deeper fundamental insight, pls read the details of previous idea (the last one).
Happy trading!
Tarang
2. 1960 is also the lower end of long term Weekly supply zone.
3. Gold is also near the top of the descending channel from May 2023 high 1981.82
4. Fall in DXY and drops in US yields did not lead to growth in Gold today.
Sell in the 1957-1973 supply zone for :
Short term targets - 1925/1912/1902
Medium term target - 1855
Please boost the idea, comment if you like any part of it.
For deeper fundamental insight, pls read the details of previous idea (the last one).
Happy trading!
Tarang
Trade active
Sold at 1963 today morning!Trade active
DXY is being held back due to weakness in USDEUR & USDGBP holding XAUUSD from fall.Though USDJPY, USDCNH, USDAUD showing strength indicating pressure on XAUUSD also.
Most importantly, US02Y & US10Y bond yields are showing and leading strength putting pressure on XAUUSD.
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