Potential double bottom will form, best level to buy Gold
After failing to overcome the 100 day EMA dynamic resistance at the 1800 level, Gold
has continued to drop. Lately, the price of Gold is consolidating in a small range but so far,
we have not seen any strong bullish impulse.
So, the likelihood of further drops in Gold can not be ruled out. Thus, it has become very
important for the potential buyers to find a good entry to buy Gold.
In my opinion, the best and low-risk entry to buy gold is between 1675-1682 because that
region is a strong support level from where Gold has bounced up in the past. Also, a potential
double bottom pattern could form at the 1680 level.
has continued to drop. Lately, the price of Gold is consolidating in a small range but so far,
we have not seen any strong bullish impulse.
So, the likelihood of further drops in Gold can not be ruled out. Thus, it has become very
important for the potential buyers to find a good entry to buy Gold.
In my opinion, the best and low-risk entry to buy gold is between 1675-1682 because that
region is a strong support level from where Gold has bounced up in the past. Also, a potential
double bottom pattern could form at the 1680 level.
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.