Hello Traders,
Gold price remains pressured near yearly lows currently trading near $1687. XAUUSD sellers keep their eyes on the 61.8% Fibonacci Expansion level of Gold’s late April to early August moves, near $1660.
The $1700 level will offer the immediate resistance, above which gold buyers will need to crack Monday’s low of $1712. However, the Relative Strength Index has established in a bearish range of 20.00-40.00, which indicates more weakness ahead for the commodity. We consider selling Gold with $1680 and $1660 as the targets. If you appreciate our work, please like and comment, it keeps us motivated to do better ❤️
Gold price remains pressured near yearly lows currently trading near $1687. XAUUSD sellers keep their eyes on the 61.8% Fibonacci Expansion level of Gold’s late April to early August moves, near $1660.
The $1700 level will offer the immediate resistance, above which gold buyers will need to crack Monday’s low of $1712. However, the Relative Strength Index has established in a bearish range of 20.00-40.00, which indicates more weakness ahead for the commodity. We consider selling Gold with $1680 and $1660 as the targets. If you appreciate our work, please like and comment, it keeps us motivated to do better ❤️
Trade closed: target reached
Gold reached both targets $1680 and $1660.
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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.