Breaking the trendline, GOLD recovery before the uptrend
Updated
Dear ladies and gentlemen
👻Gold price turned south and dropped below $1,870 after touching a two-week-high of $1,885 earlier in the day. The benchmark 10-year US Treasury bond yield is up more than 1% above 4.6% after latest US inflation figures,.
👻Gold broke the trendline at the 1871 price range after the US PMI data was released. According to analysis, gold will have a test of 1873 and then continue a downward trend in the short term.
👻The short-term trading point is SELL at the price range of 1873. The two nearest support levels are 1863 and 1850, which will support gold's upward momentum.
👻There is a high possibility that gold will react in price in the 1863 area when the candlestick force is strong enough, you can total buy at 1853-1851.
👻Gold price turned south and dropped below $1,870 after touching a two-week-high of $1,885 earlier in the day. The benchmark 10-year US Treasury bond yield is up more than 1% above 4.6% after latest US inflation figures,.
👻Gold broke the trendline at the 1871 price range after the US PMI data was released. According to analysis, gold will have a test of 1873 and then continue a downward trend in the short term.
👻The short-term trading point is SELL at the price range of 1873. The two nearest support levels are 1863 and 1850, which will support gold's upward momentum.
👻There is a high possibility that gold will react in price in the 1863 area when the candlestick force is strong enough, you can total buy at 1853-1851.
Trade active
active plan sellNote
Trade closed: stop reached
Gold does not follow technical analysis
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.