Gold’s Price Action: New Highs or Correction Ahead?
Yesterday, gold reached yet another all-time high, slightly above 2,880.
However, the price quickly dropped by 200 pips, finding support at 2,660.
Since then, gold has been consolidating, but a correction appears to be looming.
In the posted 30-minute chart, we can see a small head-and-shoulders pattern forming.
A break below the newly established support and the neckline of the pattern could lead to a further drop to 2,640.
Although trading at this stage is extremely risky, I believe gold is more likely to correct at this point rather than make a new ATH.
However, the price quickly dropped by 200 pips, finding support at 2,660.
Since then, gold has been consolidating, but a correction appears to be looming.
In the posted 30-minute chart, we can see a small head-and-shoulders pattern forming.
A break below the newly established support and the neckline of the pattern could lead to a further drop to 2,640.
Although trading at this stage is extremely risky, I believe gold is more likely to correct at this point rather than make a new ATH.
Trade aktif
Gold broke under 2860 neck line supportTrading ditutup: target tercapai
2840 target hit
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t.me/FanCryptocurrency
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.