Gold bulls unable to break 1818 level, more drop likely
Gold is struggling to break above the 1818 resistance level . This level is important
from a technical point of view because the 100 day EMA resides at this level.
So, if the bulls continue to struggle at this area, there is a risk of a decline in Gold
prices over the next couple of weeks.
If bearish price action continues at this 100day EMA level, I would recommend traders
to sell Gold@1800-1820 with SL above 1835 and TP at 1750
from a technical point of view because the 100 day EMA resides at this level.
So, if the bulls continue to struggle at this area, there is a risk of a decline in Gold
prices over the next couple of weeks.
If bearish price action continues at this 100day EMA level, I would recommend traders
to sell Gold@1800-1820 with SL above 1835 and TP at 1750
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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.