Gold back in range
Gold price is now again entered in range area and we have to wait for breakout this range area for next move,
The uncertainty around the US presidential election and Middle East tensions might boost the safe-haven demand, supporting the gold price.
On volume profile we can see that the current price is trading under High Volume area, in Lower side if price breakdown Friday low then we can expect test at weekly S1 or at psychological support at 2700, In higher side the resistance is at weekly pivot (2750) and Friday High (2761) is main hurdle for bulls. To conclude this we have following trade opportunities for Intraday :
Currently we have to wait as price is in range:
and after range breakout:
For buy either wait for breakout on Friday High or wait for lower Levels near 2700-10 area.
For sell: Wait for breakdown the Friday Low
The uncertainty around the US presidential election and Middle East tensions might boost the safe-haven demand, supporting the gold price.
On volume profile we can see that the current price is trading under High Volume area, in Lower side if price breakdown Friday low then we can expect test at weekly S1 or at psychological support at 2700, In higher side the resistance is at weekly pivot (2750) and Friday High (2761) is main hurdle for bulls. To conclude this we have following trade opportunities for Intraday :
Currently we have to wait as price is in range:
and after range breakout:
For buy either wait for breakout on Friday High or wait for lower Levels near 2700-10 area.
For sell: Wait for breakdown the Friday Low
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