Gold price yielded a weekly close above the all-important 200-Daily Moving Average (DMA) at $1,922 on Friday, opening doors for more gains.
However, Gold buyers need to scale a powerful resistance aligned at $1,1932, the 50 DMA, to confirm a bullish reversal from three-week lows.
The psychological $1,950 level will be next on Gold buyers’ radars. Ahead of that, the downward-sloping 100 DMA at $1,946 could protect the upside.
Alternatively, Gold price could see a pullback toward the 200 DMA at $1,922 if it fails to reclaim the 50 DMA barrier at $1,932. At that level, the 21 DMA coincides.
Set up gold
Gold buy now 1929
Buy limit 1920
Target 1942
Target 1956
Target 1973
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
However, Gold buyers need to scale a powerful resistance aligned at $1,1932, the 50 DMA, to confirm a bullish reversal from three-week lows.
The psychological $1,950 level will be next on Gold buyers’ radars. Ahead of that, the downward-sloping 100 DMA at $1,946 could protect the upside.
Alternatively, Gold price could see a pullback toward the 200 DMA at $1,922 if it fails to reclaim the 50 DMA barrier at $1,932. At that level, the 21 DMA coincides.
Set up gold
Gold buy now 1929
Buy limit 1920
Target 1942
Target 1956
Target 1973
👉 wish trader to manage your account well
👉 Take small lots with money management
👉Take small stoploss and big take profit according to your capital
👉 The winner is who have patients
Note
Hold your buy tradesNote
Buy limit 1920 and hold onNote
Gold will fly soonNote
Hold itNote
Let's do good profitNote
30 pips runningNote
Keep holdNote
1933 done running 40 pips
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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.