gold mid-term outlook bears will target 1785 usd
Diupdate
🔸Hello traders, today let's review 2daily price chart for gold. Heavy rejection
from strong overhead resistance near 2075, sliding S/R contained the bull run
once again.
🔸2015/2020 usd weak horizontal S/R price level, once bears take it out
expecting strong sell side pressure to accelerate, targeting 1950 and 1900 usd.
🔸While the gold price chart looks strong in hindsight, the V-shape recovery
already completed near 2075 usd and therefore and further upside is very
limited, pullback/correction required before we can resume the uptrend.
🔸Recommended strategy position traders: BEARS should wait for weak S/R
breakdown near 2015/2020 usd, and short sell initial target is 1900/1950 usd.
final TP bears is 1785 usd, however keep in mind this is a swing trade setup,
so naturally more time required to hit final TP. good luck!
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RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
from strong overhead resistance near 2075, sliding S/R contained the bull run
once again.
🔸2015/2020 usd weak horizontal S/R price level, once bears take it out
expecting strong sell side pressure to accelerate, targeting 1950 and 1900 usd.
🔸While the gold price chart looks strong in hindsight, the V-shape recovery
already completed near 2075 usd and therefore and further upside is very
limited, pullback/correction required before we can resume the uptrend.
🔸Recommended strategy position traders: BEARS should wait for weak S/R
breakdown near 2015/2020 usd, and short sell initial target is 1900/1950 usd.
final TP bears is 1785 usd, however keep in mind this is a swing trade setup,
so naturally more time required to hit final TP. good luck!
🎁Please hit the like button and
🎁Leave a comment to support our team!
RISK DISCLAIMER:
Trading Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
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