GOLD 1H : Still under sell pressure
Updated
GOLD
OUTLOOK
Technical abstract :
The price perfectly fulfills my last idea and reached to our target and now on the way to our second target .
The price of gold moving in the accidental range below the resistance 1930 level ,which is important for gold to be continue at the bearish trend .
Therefore, a bearish bias will be expected for today, supported by the bearish channel, so as long as price trade under 1930 the price will be under sell pressure and first target will be 1923 and then 1916 again ,taking into account that breaking 1930 will stop the bearish trend and put pressure on the price to earn more gains in the immediate term. noting that breaching this level will push the price to reach 1940 as a main target.
The expect range trading for today it will be between resistance line 1930 and support line 1916 until stabilized .
Support line : 1930 , 1940
Resistance line : 1916 , 1919
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
OUTLOOK
Technical abstract :
The price perfectly fulfills my last idea and reached to our target and now on the way to our second target .
The price of gold moving in the accidental range below the resistance 1930 level ,which is important for gold to be continue at the bearish trend .
Therefore, a bearish bias will be expected for today, supported by the bearish channel, so as long as price trade under 1930 the price will be under sell pressure and first target will be 1923 and then 1916 again ,taking into account that breaking 1930 will stop the bearish trend and put pressure on the price to earn more gains in the immediate term. noting that breaching this level will push the price to reach 1940 as a main target.
The expect range trading for today it will be between resistance line 1930 and support line 1916 until stabilized .
Support line : 1930 , 1940
Resistance line : 1916 , 1919
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLDUPDATE
The price perfectly fulfills my last idea and price reached to our target which is 1916 and we get +90 pip .
now to be continue at the bearish trend should stable under 1916 and then will try to reach 1909 .
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