Gold taking a break
After PPI data gold is taking break and we have seen a good correction from the buy move : In previous posts I was expecting more strength before a pullback, but gold price faced big resistance at 2715-21 zone.
Now if we draw the fib levels for this current correction that started form yesterday the zone 2700-06 is resistance area for bulls and bull need to claim this zone first to see higher levels and under this we can expect more decline.
In lower side the previous day close (2680) is the level that we have to watch on Intra day.
If price close H1 or H4 under this level then we can expect more decline in lower side.
The first support is PDL (2675) and next support as per Fib is 2669 (50%) and 2656 (60% retracement Level).
For Intra day we can watch these levels and can plan our trade accordingly and for Swing we have to wait for confirmation of possible low on weekly close (Or most probably in mid of next week).
Now if we draw the fib levels for this current correction that started form yesterday the zone 2700-06 is resistance area for bulls and bull need to claim this zone first to see higher levels and under this we can expect more decline.
In lower side the previous day close (2680) is the level that we have to watch on Intra day.
If price close H1 or H4 under this level then we can expect more decline in lower side.
The first support is PDL (2675) and next support as per Fib is 2669 (50%) and 2656 (60% retracement Level).
For Intra day we can watch these levels and can plan our trade accordingly and for Swing we have to wait for confirmation of possible low on weekly close (Or most probably in mid of next week).
Trade aktif
Moving as per the view, now we have to wait for confirmation from lower side for swing buy
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✅For Live Update on Gold Price and trade opportunities ; Join Free community
t.me/livepriceactiontrading
t.me/livepriceactiontrading
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.