Gold's Comeback: Buy the Dip or Stay Cautious?
Hello everyone! How do you think we should trade gold today?
Yesterday, gold experienced a sharp decline, but it quickly regained its bullish momentum, recovering to $2,915 at the time of writing—marking a 100+ pip rebound within the day.
In the short-term analysis, we can see that gold has broken out of the falling wedge pattern and established a new support zone, as highlighted on the charts. The price moving above the EMA 34 and 89 is a positive sign, indicating bullish momentum.
Based on my technical analysis and personal assessment, in the short term, I continue to favor a buy strategy, targeting a take-profit (TP) level at $2,940, with a stop-loss (SL) at $2,892.
What about you? What’s your outlook on gold today? Drop a comment and let’s discuss!
Yesterday, gold experienced a sharp decline, but it quickly regained its bullish momentum, recovering to $2,915 at the time of writing—marking a 100+ pip rebound within the day.
In the short-term analysis, we can see that gold has broken out of the falling wedge pattern and established a new support zone, as highlighted on the charts. The price moving above the EMA 34 and 89 is a positive sign, indicating bullish momentum.
Based on my technical analysis and personal assessment, in the short term, I continue to favor a buy strategy, targeting a take-profit (TP) level at $2,940, with a stop-loss (SL) at $2,892.
What about you? What’s your outlook on gold today? Drop a comment and let’s discuss!
Trade active
⭐️Join our FREE Signal Channel for instant benefits:
t.me/+HpvXxXyesls0YmM1
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
t.me/+HpvXxXyesls0YmM1
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
⭐️Join our FREE Signal Channel for instant benefits:
t.me/+HpvXxXyesls0YmM1
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
t.me/+HpvXxXyesls0YmM1
✅80% Win Rate Signals - Free, high-quality signals to boost your success.
✅Expert Trading Strategies
✅Exclusive Tips & Insights
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.