Will the downtrend continue?
Updated
Gold is still declining due to the strengthening of the dollar.
The price of gold is approaching the support level of 1720.
The gold chart could not create a new ceiling compared to the previous one after a sudden climb last night.
If we want to find the confirmed uptrend in gold, it must be able to reach above 1734, otherwise the downtrend will continue.
In this downtrend, the first target of the previous floor will be 1720, around which we will see reactions, and if it is broken, the next target will be 1717 and then 1700, and even a large shadow may be created up to the range of 1677.
signals :
short in 1731.4
tp : 1720
ls : 1735.5
This is just a suggestion
The price of gold is approaching the support level of 1720.
The gold chart could not create a new ceiling compared to the previous one after a sudden climb last night.
If we want to find the confirmed uptrend in gold, it must be able to reach above 1734, otherwise the downtrend will continue.
In this downtrend, the first target of the previous floor will be 1720, around which we will see reactions, and if it is broken, the next target will be 1717 and then 1700, and even a large shadow may be created up to the range of 1677.
signals :
short in 1731.4
tp : 1720
ls : 1735.5
This is just a suggestion
Trade closed manually
YES
Related publications
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.