Gold - Possible Trade Ideas
Gold has broken out of the trend line after testing it multiple times. It came back and retested and now looks to be a potential breakout on the upside. However, it is just as possible that Gold may retest its long term support. If it breaks this support level I would anticipate that it would continue the downtrend.
If the uptrend continues would believe it'll hit the resistance of 1550.00. And a possible SL would be below the support level.
If the downtrend breaksouts of support then a target of 1420.00 and a SL above the previous high.
These are my thoughts and don't constitute investment advice.
If the uptrend continues would believe it'll hit the resistance of 1550.00. And a possible SL would be below the support level.
If the downtrend breaksouts of support then a target of 1420.00 and a SL above the previous high.
These are my thoughts and don't constitute investment advice.
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.