Gold Trend 02/09
Gold traded in a tight range yesterday. The buying momentum from the rebound(1) the day before has failed to push the price over 1820. Once the price broke the S-T support line(2), the price has no choice but to settle between 1810-20 once again. The market will now prepare for Friday's US employment figures, before a breakout, should be able to take advantage of the 1810-20 range.
The upward trend is yet to finish, where the market is still waiting for a reversal signal. No structural changes on the daily chart.
S-T Resistances:
1830
1823
1818-20
Market price: 1815
S-T Supports:
1814-15
1808-10
1805
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P. To
The upward trend is yet to finish, where the market is still waiting for a reversal signal. No structural changes on the daily chart.
S-T Resistances:
1830
1823
1818-20
Market price: 1815
S-T Supports:
1814-15
1808-10
1805
If you like our work, please give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To @ 1uptick Analytics
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