There is a lot of buy-side liquidity resting in the gold market. There are 2 to 3 daily highs currently unchallenged, and even a weekly high is in place. The market has already moved downward and created inducement (a trap or manipulation to draw sellers in), which now makes the market appear bullish from this point.
We could see an upward move up to $3350 or even higher—especially if a 4-hour candle closes above $3360. At this point, it’s better to wait for clear displacement (strong movement indicating a direction). After that, we’ll see how the market develops.
Do Your Own Research (DYOR)! This is not financial advice.
We could see an upward move up to $3350 or even higher—especially if a 4-hour candle closes above $3360. At this point, it’s better to wait for clear displacement (strong movement indicating a direction). After that, we’ll see how the market develops.
Do Your Own Research (DYOR)! This is not financial advice.
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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.