GOLD 4H : Under sell pressure
Updated
GOLD
New forecast
The price perfectly fulfills my last idea and price reached to our targets +360 pip.
The price of gold confirmed breaking the 2043 level and stabilized within the descending intraday channel again, reactivating the bearish trend scenario in the intraday term, waiting to test the 2017 level initially, noting that breaking this level will confirm the extension of the downward corrective wave to reach 1993 and 1976 as the next main station.
Therefore, we expect to witness further declines during the coming sessions, supported by a move below the moving average of 50, keeping in mind that the 2043 breakthrough will stop the negative scenario.
The expect range trading for today it will be between resistance line 2043 and support line 2017 until stabilized .
Additionally ,Today News will affect on the market.
support line : 2017 , 1993
resistance line : 2043 , 2055
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
New forecast
The price perfectly fulfills my last idea and price reached to our targets +360 pip.
The price of gold confirmed breaking the 2043 level and stabilized within the descending intraday channel again, reactivating the bearish trend scenario in the intraday term, waiting to test the 2017 level initially, noting that breaking this level will confirm the extension of the downward corrective wave to reach 1993 and 1976 as the next main station.
Therefore, we expect to witness further declines during the coming sessions, supported by a move below the moving average of 50, keeping in mind that the 2043 breakthrough will stop the negative scenario.
The expect range trading for today it will be between resistance line 2043 and support line 2017 until stabilized .
Additionally ,Today News will affect on the market.
support line : 2017 , 1993
resistance line : 2043 , 2055
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Trade closed: target reached
GOLD
Update
The price perfectly fulfills my last idea and price reached to our targets +200 pip.
The price of gold ended yesterday’s trading below the 2017 level, confirming the continuation of the dominance of the downward corrective trend in the immediate term, paving the way for heading towards 1993 and 1976 , which represents our next negative station,
Therefore the downward scenario will be remain valid and effective during coming period ,noting that the moving average of 50 is putting negative pressure on the price to support the continuation of the expected decline., keeping in mind that breaching 2017 levels will stop the negative scenario and push the price to recover again.
The expect range trading for today it will be between resistance line 2017 and support line 1976 until stabilized .
Additionally ,Today News will affect on the market.
support line : 1993 , 1976
resistance line : 2017 , 2043
Attention : We don't have any group in telegram be careful about scammer.
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
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