Gold is in down trend. But the momentum of bears is very slow. Presently gold is consolidating between its weekly support at 1818 and the Upper value zone boundary (today at 1830). Market is waiting for the CPI numbers which come tomorrow. So there is no volume yesterday. Today there is Powell speech and similar to before he will assure dollar is strong and other positive things to keep spirits. So today I hope during this interview Gold will test the support between 1808 to 1818 and this can act as a trigger for some bullish momentum. However lets go only for scalping with small SL and TP before American session. Presently gold is trading below its 50-100-200 DEMA levels. So see for longterm buying at every low.
Tomorrow is month end and news about CPI so we will see very high volatility.
The important levels today are 1804-1816-1826-1832-1845-18561872
My trading idea
Sell 1830 SL 1836 TP 1820
Buy 1808 SL 1800 TP 1826
Tomorrow is month end and news about CPI so we will see very high volatility.
The important levels today are 1804-1816-1826-1832-1845-18561872
My trading idea
Sell 1830 SL 1836 TP 1820
Buy 1808 SL 1800 TP 1826
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.
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.