Resistance above the next challenger for GOLD
Gold broke out of a recent uptrend to form a correction through positive US data and peace strategies in Gaza.
Price now finds itself hovering around 1990 with a level of resistance above in the region of 1991-1993. Price on the 4hour has also pushed lower to push off the 50/55 moving averages, prompting a possible double top on the cards.
BULLS PLAN:
- Push through this key level of resistance above and kick off a role reversal (change of character) to test highs int he 2010 region
- Watch for entries when this level is broken as currently price is too high currently to enter longs ad price moves into resistance. HIGH RISK
BEARS PLAN:
- Wait for price to reach the resistance level above around 1991-1993 and look for rejection candles
- Lower time frame charts (1m/5m/15m) for price action entry (double tops/lower lows)
- Targets medium to long term will be 1950 region
Price now finds itself hovering around 1990 with a level of resistance above in the region of 1991-1993. Price on the 4hour has also pushed lower to push off the 50/55 moving averages, prompting a possible double top on the cards.
BULLS PLAN:
- Push through this key level of resistance above and kick off a role reversal (change of character) to test highs int he 2010 region
- Watch for entries when this level is broken as currently price is too high currently to enter longs ad price moves into resistance. HIGH RISK
BEARS PLAN:
- Wait for price to reach the resistance level above around 1991-1993 and look for rejection candles
- Lower time frame charts (1m/5m/15m) for price action entry (double tops/lower lows)
- Targets medium to long term will be 1950 region
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.