Following the current bullish trend, the minor bearish wave on lower timeframes is coming to a halt. Gold is supported by the strong level at 1920 and 1900 respectively, which will be enough volume to see it soar towards 1953 and 1980, the remaining porting of q1 2023. We will have to wait and see how these two support levels behave before entering long and daily levels falling below 1900 will invalidate the bullish momentum at least for q1. Fundamentals will aid in deciding an optimum trade entry long. Today is the last trading day for January, you might want to follow the W1 close and hunt for safe entries before NFP next month.
Commentaire:
If the price trades above 1920, will give enough confirmation for an entry long with a tight stop around 1915 as M1 and W1 close.
Commentaire:
Following closely to see whether the tight top around 1915 will hold the bulls in Gold
Bearish momentum can only come in below 1900 with strong confirmation from market structure/ price action
Bearish momentum can only come in below 1900 with strong confirmation from market structure/ price action
