XAUUSD: Time for this commodity to shine?
Updated
We had a strong sell down on Gold the past few days, breaking the 1758 support region which caused many retail traders to chase the short positions.
We are fast approaching a demand zone (1685/1722), I expect some sideways movement here before the price pushes higher.
Ultimately, the trend is still bullish and price should revisit the 1870/1900 region again before further direction.
XAUUSD Long
Entry is valid as long as price is above 1685
SL 1660
TP 1870/1900
We are fast approaching a demand zone (1685/1722), I expect some sideways movement here before the price pushes higher.
Ultimately, the trend is still bullish and price should revisit the 1870/1900 region again before further direction.
XAUUSD Long
Entry is valid as long as price is above 1685
SL 1660
TP 1870/1900
Comment
As expected, price has found support at the 1685 level and is pushing higher.We should see 1758 pretty quickly.
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.