GOLD 29/05: Sell entry point for the first day of the week
Updated
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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