Just looking at my weekly chart now and as you can see....Gold buy should happen only with very reasonable level of caution as I can see that the global view of Gold is a downtrend.
I see Gold retesting 1765 in the next couple of hours or days but this does not mean that anything can still not happen as fundamentals can change the trend so will advise proper risk management.
if we do not see see a retest of 1832 soon, I see gold testing 1737 if 1765 is broken and if that happens and got broken, it will take us to the immediate expected bust-stop of 1678 - 1682 area.
In the very long term, 1 am expecting Gold to still retest 1453 as there are a lot of Gaps to be covered since March 2020.
Remember as you trade that price don't move in a straight line and apply proper risk management.
Happy trading
I see Gold retesting 1765 in the next couple of hours or days but this does not mean that anything can still not happen as fundamentals can change the trend so will advise proper risk management.
if we do not see see a retest of 1832 soon, I see gold testing 1737 if 1765 is broken and if that happens and got broken, it will take us to the immediate expected bust-stop of 1678 - 1682 area.
In the very long term, 1 am expecting Gold to still retest 1453 as there are a lot of Gaps to be covered since March 2020.
Remember as you trade that price don't move in a straight line and apply proper risk management.
Happy trading
Note
I also see the possibility of gold retesting 1803 - 1810 before a major fall is price breaks 1799 before the new you sessionNote
Gold working on 188.72 resistance level. A closure above this level may take us to 1810 - 1818 area. My short bias is still valid until then
Note
Recall I mentioned the possibility of Gold touching 1803. This just happened. Let's keep watching how this plays out,Will see if price closes below 1810
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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.