supply, demand and fresh pivot in gold
gold has been on a steady decline for a long time now
normally i do not put a lot of faith in zones way over to the left like this
but there is a fresh uncrossed pivot high at this level in blue
the first demand zone is in green dotted area
the second is the one i have more confidence in simply because of the tiny little red candle represents a month of trading in that price range. Logically there would have to have been some amount of buy orders there at the time or price could not have moved up.
normally i do not put a lot of faith in zones way over to the left like this
but there is a fresh uncrossed pivot high at this level in blue
the first demand zone is in green dotted area
the second is the one i have more confidence in simply because of the tiny little red candle represents a month of trading in that price range. Logically there would have to have been some amount of buy orders there at the time or price could not have moved up.
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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.