Gold might have topped at $2075 last week, or could be very close to carving a top. The drop from $2075 through $1862 was in 3 waves hence corrective. If Wave 3 is unfolding as an extended wave, it could be still unfolding and the metal should turn lower from here. Alternately, if the corrective drop is complete, Gold would continue higher above $2075. Would be interesting to see price action unfolding in the next few trading sessions.
Aggressive traders remain short now, stop @ 2080, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Aggressive traders remain short now, stop @ 2080, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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.
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.