Gold update
As we expected, after the meeting, the price was sharply dropped , by the way, how we expected?
The chart signed by two red eyebrow that the first one is higher and it means the price had the inability to make another rally and dropped.
1950 is such an important level that if gold loose it, it maybe dropped to 1930.
Now let check the daily chart:
https://www.tradingview.com/x/XZ58SBz0/
The price estimates to see 1985 but because of the thick cloud, it maybe continues range movement before breaks level 1970.
From the S/R view, we have an important level that is 1930 that if gold loose it, it can go to 1910 or lower.
To summarize , we still believe the gold can see the higher price than 2070 this year but not in this month.
The chart signed by two red eyebrow that the first one is higher and it means the price had the inability to make another rally and dropped.
1950 is such an important level that if gold loose it, it maybe dropped to 1930.
Now let check the daily chart:
https://www.tradingview.com/x/XZ58SBz0/
The price estimates to see 1985 but because of the thick cloud, it maybe continues range movement before breaks level 1970.
From the S/R view, we have an important level that is 1930 that if gold loose it, it can go to 1910 or lower.
To summarize , we still believe the gold can see the higher price than 2070 this year but not in this month.
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