Gold price action looks bearish, 1900 next?
Dear traders, Gold bulls have been unable to break the dynamic resistance
on the 4Hour chart despite multiple attempts to break it.
The support level in the 1937 level also looks fragile now. In my previous
couple of Gold ideas, I have mentioned that selling Gold1970 is wise choice
as it offers a low-risk-high reward set-up.
So, based on the current price action, it seems Gold will reach 1937 level. If the
buyers do not step in at that level, expect another leg down to 1900.
on the 4Hour chart despite multiple attempts to break it.
The support level in the 1937 level also looks fragile now. In my previous
couple of Gold ideas, I have mentioned that selling Gold1970 is wise choice
as it offers a low-risk-high reward set-up.
So, based on the current price action, it seems Gold will reach 1937 level. If the
buyers do not step in at that level, expect another leg down to 1900.
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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.