Long

Gold Could See Upward Movement Towards 1860 This Week

Updated

This week, there are several factors that could contribute to gold's potential upward movement towards 1860. The ongoing conflict between Israel and Palestine could have a positive impact on gold.
Gold currently has resistance levels at 1836-1844, and if these are broken, it could reach targets of 1860 and 1864. Its support levels are currently at 1804-1814, and if these are broken, the next support level could be at 1790.

Note

If the gold price can stay above 1846, it may be able to reach the next targets 1857 -1863.

Note

If gold moves downwards and falls below 1846, there is good support for it around 1831-1837.

Trade closed: target reached

Our target range for gold was between 1857 to 1863, which it has reached. However, its price may decrease slightly from now on. The current support range is between 1846 to 1849, and the next resistance level is between 1876 to 1880.

Note

If gold can break 1865, it may continue to the next resistance level of 1876-1880.
If gold wants to move downwards, it can come down to its support level of 1849-1846, which is a good range for buying.

Note

Gold has reached our TP (1876-1880)
If it can break this range, the next resistance level is at 1885. The support levels are at 1857-1863.

Note

Gold has reached one of its most important resistances in 1885, and if it cannot break through this resistance, we can expect a downward movement. However, if this resistance is broken, we can expect to see 1890 and 1900 ahead.

Note

Sell targets: 1876 - 1870 - 1865

Note

Sell tp1 and tp2 Done :)

Note

Gold has reached its downtrend trendline in the 12-hour timeframe. If this trendline is broken, our target is 1944-1953.

Note

New idea:

Gold Breaks Downward Trend Line,Potential for Reaching 1970

Note

In the 12-hour timeframe, gold has experienced a reversal after breaking the downward trend line last week. This week, gold has made a rebound to the trend line and has started an upward movement again.

Unless gold breaks below 1908.206, the likelihood of a downward movement is very low.

Note

1946 Done :)
Gold Resistance: 1944-1953
If this resistance is broken, our next targets are 1960-1970-1980.
Gold Support: 1924-1932.

Note

Gold has been testing resistance levels on hourly and 4-hourly timeframes, but I think its current movement could potentially break through the resistance. This could happen with a downward movement followed by an upward one. If this happens, our next important range would be between 1958.9-1963.8.

Note

1958 Done :)

Note

1960 Done

ProSignal-team

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.