Gold Spot / U.S. DollarUpdated What is the best level to buy Gold now? Discussed below
Hello everyone, the 1890 level gave us a trend reversal in Gold.
If you look at the chart, you can clearly notice how the trend changed
from bearish to bullish in Gold.
📌 In the hourly chart in Gold, you can notice that XAU/USD is being
supported by the ascending trend line as well as the hourly moving average.
📌 Currently, the price of Gold has hit a minor roadblock in the 1935 level.
However, according to me, this level is a very weak resistance.
📌In case Gold pulls back from this level and reaches 1920-1922, then I would
consider a buy entry with TP at 1955. Keep in mind that this set-up would be valid
only if we can see some bullish price action after Gold touches the 1920 level.
If you look at the chart, you can clearly notice how the trend changed
from bearish to bullish in Gold.
📌 In the hourly chart in Gold, you can notice that XAU/USD is being
supported by the ascending trend line as well as the hourly moving average.
📌 Currently, the price of Gold has hit a minor roadblock in the 1935 level.
However, according to me, this level is a very weak resistance.
📌In case Gold pulls back from this level and reaches 1920-1922, then I would
consider a buy entry with TP at 1955. Keep in mind that this set-up would be valid
only if we can see some bullish price action after Gold touches the 1920 level.
Note
It seems gold has broken through the minor roadblock at 1935
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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.