GOld ready for take off?
Updated
After the this week market opening. Gold opened high in price. BEcause off the war whats going on in Israel.
After the break off resistance level 1855-1860. In my opinion gold will continu to grow. Retest already happened in higher timeframe.1865 is the upper resistance level we need a break. Seller won't give up easy.
FUndamental the Bank of Israel said to sell $30 billion of forex to stabilize shekel amid Gaza war. ALso Gold is a save asset during this global events. SO i expect gold to rise towards 1873 and posible then 1885. At these resistance levels we wait for priceaction to tell us more. It is posible fall comes again from here.
After the break off resistance level 1855-1860. In my opinion gold will continu to grow. Retest already happened in higher timeframe.1865 is the upper resistance level we need a break. Seller won't give up easy.
FUndamental the Bank of Israel said to sell $30 billion of forex to stabilize shekel amid Gaza war. ALso Gold is a save asset during this global events. SO i expect gold to rise towards 1873 and posible then 1885. At these resistance levels we wait for priceaction to tell us more. It is posible fall comes again from here.
Note
analysis on point. Gold hit 1873. Were in a resistance area at the moment. Waiting for priceaction to tell more.Note
Gold is still hovering around strong resistance zone 1874-1878. My expectation is gold will break the zone and climb toward 1885. From here it gets interesting for a posible short. Second option is around 1900 level.
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