Hi Friends,
Another analysis on gold. As always I keep everything simple. So we have multiple levels of buy and sell. Our immediate sell level is 2047-2049 which price has reacted to.
Below it we have level 27-29 as our demand level and also below it another one. in case market continues rallying up we have couple supply levels like area 61 and 73.
So we have to wait for the NEW YORK session in order to see the direction of the market.
*make sure to pay attention to the PPI news being published later today
Be honorable
Another analysis on gold. As always I keep everything simple. So we have multiple levels of buy and sell. Our immediate sell level is 2047-2049 which price has reacted to.
Below it we have level 27-29 as our demand level and also below it another one. in case market continues rallying up we have couple supply levels like area 61 and 73.
So we have to wait for the NEW YORK session in order to see the direction of the market.
*make sure to pay attention to the PPI news being published later today
Be honorable
Note
22 min to ppi newsNote
less than a min to newsNote
let's go for level 61Note
getting close to level 61Note
There you 60 pips so farNote
Let's see if 61 changes the course to bearishNote
Close to 100 pips has been gainedNote
There are reversal sign in lower time frame that's why price retracing upwardNote
160 pips profitNote
Price back at 55 level, immediate demand would be 49Note
Price is going down toward demand levelNote
Reacted to level 49 demandNote
Yesterday market moved from 49 to 56 which about 70 pips was gainedNote
market is reacting to level 39 demandNote
Going up from level 39Note
let's see if goes down for level 27-29Note
didn't reach 27-29 level and moved up reacted to 43 level againNote
It couldn't get through level 43 againNote
Let's see if it reaches 27 level or notNote
we are at 27 level, waiting for buy confirmationNote
is moving upNote
But there needs to be a confirmationNote
level 17 was missed
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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.