Gold- New visit to previous low?
In my yesterday's commentary I said that "bears have won the battle" and, after yesterday's price action, this seems pretty clear.
The intraday correction was met with strong selling in important 1680 resistance and the price dropped quickly in support giving us clues that the pressure remains on the downside.
Technically, as said, the 1680 zone offers resistance and bears can target the 1620 zone (or the previous low) for their trades.
I'm bearish as long as the price stays under 1700 in closing day terms and I'm looking to sell rallies
My yesterday's analysis:
The intraday correction was met with strong selling in important 1680 resistance and the price dropped quickly in support giving us clues that the pressure remains on the downside.
Technically, as said, the 1680 zone offers resistance and bears can target the 1620 zone (or the previous low) for their trades.
I'm bearish as long as the price stays under 1700 in closing day terms and I'm looking to sell rallies
My yesterday's analysis:
Note
I'm closing Gold short with minimum profit.Looks stuck at 1660
📈 Forex & XAU/USD Channel:
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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.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.