GOLD 30/06: Gold price at the weekend
GOLD Gold prices failed to attract any buyers or rose overnight from multi-month lows. The big belligerent central banks continue to act like a headwind on unprofitable commodities. The US Dollar stands at highs near two-week highs and also contributes to the limitation of GOLD.Technical indicators on the 4-hour chart suggest more consolidation, as long as the price remains in the 1,910$/$1,905$ range, with downside risk of price staying below the 20 Simple Moving Average (SMA) period. A bounce above 1910$ could refuel the recovery, paving the way towards 1915$, with the next resistance at 1920$. A drop below 1,905$ would expose the June low of 1,890$, with the next support at 1,880$.
Based on the above, I think we can buy
GOLD around 1904$, because gold is at the bottom of the week and there are support zones just below my entry points. So the buy signal at this time is very reasonable, I believe my signal will help you make money.Stop loss around 70pip for every signal you trade, wish we make money and win the market
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