GOLD
Gold defending $2671 is a significant development, as it indicates that the bulls are actively protecting this key support level. This defense suggests that the bullish bias remains intact, and the price may potentially rebound from here.
Key Implications:
1. Bullish Sentiment: The defense of $2671 indicates that bulls are still in control, and the overall sentiment remains positive.
2. Support Level: $2671 has proven to be a crucial support level, and its defense suggests that this level will continue to attract buyers.
3. Potential Rebound: With the bulls defending $2671, there is a possibility of a rebound, potentially targeting $2700 or higher.
1. Long: Consider buying gold on dips towards $2671, with a stop-loss below $2660.
2. Target: Set targets at $2700, $2720, or higher, depending on the strength of the rebound.
3. Risk Management: Be cautious of potential false breakouts or bearish reversals, and adjust position sizes accordingly.
Keep in mind that market conditions can change rapidly, and it's essential to stay adaptable and monitor the price action closely.
Key Implications:
1. Bullish Sentiment: The defense of $2671 indicates that bulls are still in control, and the overall sentiment remains positive.
2. Support Level: $2671 has proven to be a crucial support level, and its defense suggests that this level will continue to attract buyers.
3. Potential Rebound: With the bulls defending $2671, there is a possibility of a rebound, potentially targeting $2700 or higher.
1. Long: Consider buying gold on dips towards $2671, with a stop-loss below $2660.
2. Target: Set targets at $2700, $2720, or higher, depending on the strength of the rebound.
3. Risk Management: Be cautious of potential false breakouts or bearish reversals, and adjust position sizes accordingly.
Keep in mind that market conditions can change rapidly, and it's essential to stay adaptable and monitor the price action closely.
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.