Gold trade idea
Gold is ready for fall
Acceptance above the 21-day barrier could call for a test of the $2,650 psychological level and the 50-day SMA at $2,655.
The next relevant upside target aligns at the $2,700 round level.
On the flip side, the immediate support is at the previous resistance of 100-day SMA at $2,624.
A daily candlestick close below the latter will negate the recovery momentum, fuelling a fresh downtrend toward the weekly low of $2,596
Gold sell.2634
Target 2620
Target 2600
Acceptance above the 21-day barrier could call for a test of the $2,650 psychological level and the 50-day SMA at $2,655.
The next relevant upside target aligns at the $2,700 round level.
On the flip side, the immediate support is at the previous resistance of 100-day SMA at $2,624.
A daily candlestick close below the latter will negate the recovery momentum, fuelling a fresh downtrend toward the weekly low of $2,596
Gold sell.2634
Target 2620
Target 2600
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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.