GOLD Price Analysis: Short-Term SELL with High Risk
Updated
GOLD Price Analysis: Short-Term SELL with High Risk
On the 60-minute chart, gold faced strong resistance after testing 2790 for three consequitive times. This level also corresponds to an all-time high price zone.
Considering the geopolitical situation and the strong bullish trend this short-term bearish scenario comes with a high risk.
However, the market needs to correct periodically before gold can rise further.
The first support is near 2770, and the second, stronger support is around 2760.
This second area is a strong support zone from where gold may bounce up again.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
On the 60-minute chart, gold faced strong resistance after testing 2790 for three consequitive times. This level also corresponds to an all-time high price zone.
Considering the geopolitical situation and the strong bullish trend this short-term bearish scenario comes with a high risk.
However, the market needs to correct periodically before gold can rise further.
The first support is near 2770, and the second, stronger support is around 2760.
This second area is a strong support zone from where gold may bounce up again.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
2773.20 was the maximum bearish wave so far.
Trade closed: target reached
Trade closed: target reached
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