Gold Trend 08/07
Gold remained in a tight range yesterday. The market opened at 1739, and the price was bouned by 1739-46 throughout the day,
The relatively rapid drop the day before has slowed down since the price escaped the S-T downward trendline(1) yesterday. 1730-65(2) can be used as the operating range before the US employment figure. The S-T resistance at 1750 is still valid; if the price breaks the 1730 support, 1710-00 should be the next target to the downside.
The downtrend channel(2) is still dominating the daily chart. Althought the price failed to find new low yesterday, the reversal bottom-out sign has yet to appear. Can continue to take advantage of the 1730-1800 range before the price clears the 1730 support.
S-T Resistances:
1765
1760
1750
Market price: 1742
S-T Supprots:
1738-40
1730-31
1720
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
The relatively rapid drop the day before has slowed down since the price escaped the S-T downward trendline(1) yesterday. 1730-65(2) can be used as the operating range before the US employment figure. The S-T resistance at 1750 is still valid; if the price breaks the 1730 support, 1710-00 should be the next target to the downside.
The downtrend channel(2) is still dominating the daily chart. Althought the price failed to find new low yesterday, the reversal bottom-out sign has yet to appear. Can continue to take advantage of the 1730-1800 range before the price clears the 1730 support.
S-T Resistances:
1765
1760
1750
Market price: 1742
S-T Supprots:
1738-40
1730-31
1720
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think!
P. To
P. To @ 1uptick Analytics
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.