The gold market was volatile last week, with the sharp moves catching many traders off guard. After hitting an all-time high of 3,500, gold prices fell by more than 2,000 points in less than 24 hours!
After the plunge, the market stabilized slightly and towards the end of the weekend, gold prices established strong support around 3,370 points - as we discussed in last week's analysis.
At the same time, we can clearly see a bottom around 3,270 points, and at the time of writing, gold prices are testing this level again.
- Price action remains vulnerable below the 3,370 resistance level.
- The 3,270 support level looks fragile and pressure to break through is increasing.
Trading plan:
I plan to sell on rallies above 3,300 points with a target price around 3,200 points.
After the plunge, the market stabilized slightly and towards the end of the weekend, gold prices established strong support around 3,370 points - as we discussed in last week's analysis.
At the same time, we can clearly see a bottom around 3,270 points, and at the time of writing, gold prices are testing this level again.
- Price action remains vulnerable below the 3,370 resistance level.
- The 3,270 support level looks fragile and pressure to break through is increasing.
Trading plan:
I plan to sell on rallies above 3,300 points with a target price around 3,200 points.
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Weekly profit :200% - 300%
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JOIN OUR FREE TELEGRAM GROUP
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Free signals are updated every day
t.me/+oJG6AeKkJJQ3NGI0
t.me/+oJG6AeKkJJQ3NGI0
JOIN OUR FREE TELEGRAM GROUP
t.me/+oJG6AeKkJJQ3NGI0
Free signals are updated every day
t.me/+oJG6AeKkJJQ3NGI0
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.