Gold Spot / U.S. DollarUpdated Gold shows no sign of slowing, 1980 first key resistance
Hello traders, Gold has shown now signs of slowing down. In fact, every
dip is being aggressively bought. This is quite expected because of the current
Geopolitical situation in the Middle-East. Gold is definitely a safe haven for
the institutions at the moment.
So, based on the current trend, you can expect Gold to reach 1980 soon.
1980 is a moderate resistance level from where we could see a pullback.
At the moment, I am not considering taking any positions in Gold. I will
update this when or if price gets to 1980 level and watch out for signs of any pullback.
dip is being aggressively bought. This is quite expected because of the current
Geopolitical situation in the Middle-East. Gold is definitely a safe haven for
the institutions at the moment.
So, based on the current trend, you can expect Gold to reach 1980 soon.
1980 is a moderate resistance level from where we could see a pullback.
At the moment, I am not considering taking any positions in Gold. I will
update this when or if price gets to 1980 level and watch out for signs of any pullback.
Note
Keep in mind that 1980 is not too strong a resistance. So, sell only if bearish PA happens at 1980 zoneNote
Price breaches 1960, 1980 in sight now within the next couple of trading daysNote
My target of 1980 has been achieved much quicker than expected
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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.
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.