GOLD Gold prices fell below three-week descending resistance, around 1950$ at press time, after falling for the past three weeks in a row.On the other hand, a daily close below resistance turning support around 1,955$ is not an open invitation for Gold sellers as the upward sloping trendline from November 2022, near 1,935$, could challenge the bears before giving them control.
With optimism surrounding the US debt ceiling deal, coupled with key near-term technical support impending, gold sellers should be cautious ahead of the key US Nonfarm Payrolls.
BUY
GOLD zone 1940 - 1943 Stoploss: 1935
Take Profit 1: 1948
Take Profit 2: 1953
Take Profit 3: 1948
SELL
GOLD zone 1954-1956Stoploss: 1960
Take Profit 1: 1950
Take Profit 2: 1945
Take Profit 3: 1940
Note: Secure TP, SL to win the market!
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.