Gold is approaching strong resistance zone
Since the reversal from 1680 support Gold has risen 1k pips and now is approaching very strong resistance.
Looking at the chart we can see that this resistance kept the price elevated for the first 6 months of 2022, till the break under at the beginning of July.
Considering the rocket rise and the 5 consecutive green days so far, a correction is very probable.
Sell rallies in that resistance can be a good strategy with a great R: R if we target the 1740-1745 support zone.
Looking at the chart we can see that this resistance kept the price elevated for the first 6 months of 2022, till the break under at the beginning of July.
Considering the rocket rise and the 5 consecutive green days so far, a correction is very probable.
Sell rallies in that resistance can be a good strategy with a great R: R if we target the 1740-1745 support zone.
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