Gold Fake Out Play at 1,700 Level
1-Hour:
Price crossed below the 1,700 level and quickly retraced above it. It tested this level again, but held supported as well. This is the third wave where we're expecting bullish momentum to build up.
1-Day:
This 1,700 level is also apparent on the daily timeframe. However, we might end up seeing this pair range as it pulls away from this level. As a result, as I set a modest first target of 1,722 and will wait to see how momentum plays out closer to that level.
Price crossed below the 1,700 level and quickly retraced above it. It tested this level again, but held supported as well. This is the third wave where we're expecting bullish momentum to build up.
1-Day:
This 1,700 level is also apparent on the daily timeframe. However, we might end up seeing this pair range as it pulls away from this level. As a result, as I set a modest first target of 1,722 and will wait to see how momentum plays out closer to that level.
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