Trading Signals for GOLD sell below $2,863 (+2/8 Murray)
Early in the American session, gold is trading within the bullish trend channel forming since January 20th and below *2/8 Murray. Th area around 2,890 represents a strong resistance. Currently, the bullish force is exhausted, but after a technical rebound around 2,890.
If the gold price consolidates below 2,868, we could expect it to continue falling in the next few hours until it reaches +1/8 Murray located at 2,851. The price could even reach the bottom of the uptrend channel that coincides with 8/8 Murray around 2,812.
On the other hand, we should be careful if the gold price breaks and consolidates above 2,870. This could mean a further bullish movement so that the metal could reach +2/8 of Murray located at 2,890.
Eventually, it could even touch he psychological level of 2,900.
The indicator is reaching the extremely overbought zone and is showing a negative signal. Hence, we could sell at current price levels around 2,863 with a target at 2,812.
If the gold price consolidates below 2,868, we could expect it to continue falling in the next few hours until it reaches +1/8 Murray located at 2,851. The price could even reach the bottom of the uptrend channel that coincides with 8/8 Murray around 2,812.
On the other hand, we should be careful if the gold price breaks and consolidates above 2,870. This could mean a further bullish movement so that the metal could reach +2/8 of Murray located at 2,890.
Eventually, it could even touch he psychological level of 2,900.
The indicator is reaching the extremely overbought zone and is showing a negative signal. Hence, we could sell at current price levels around 2,863 with a target at 2,812.
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DAILY FREE SIGNAL.
FREE SIGNAL (95% accuracy ) TP AND SL PROVIDED
Public Telegram Channel
t.me/tradeaction0
VIP Telegram Channel
t.me/FxMr_Signal
FREE SIGNAL (95% accuracy ) TP AND SL PROVIDED
Public Telegram Channel
t.me/tradeaction0
VIP Telegram Channel
t.me/FxMr_Signal
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.