Gold Outlook - 5 November 2019
Hi Guys,
Been busy lately, here's my analysis...
Based on D1, we can see a major rejection at the upper trendline. Thus, Gold is due to fall down to 1440 (long term) for correction within the flag pattern.
Looking at H4, the downside prevails, with immediate support to break at 1506. A break below 1500 will trigger more downward push to 1485.
Tonight ISM and JOLTS might give MIXED results, but expect a downward movement.
This week, gold might test 1440 (maximum) with more possible target at 1480/1470. Expect bullish movement reversal around 1480 (BUY STOP) with SL 30 pips.
Been busy lately, here's my analysis...
Based on D1, we can see a major rejection at the upper trendline. Thus, Gold is due to fall down to 1440 (long term) for correction within the flag pattern.
Looking at H4, the downside prevails, with immediate support to break at 1506. A break below 1500 will trigger more downward push to 1485.
Tonight ISM and JOLTS might give MIXED results, but expect a downward movement.
This week, gold might test 1440 (maximum) with more possible target at 1480/1470. Expect bullish movement reversal around 1480 (BUY STOP) with SL 30 pips.
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