GOLD D1 LONG PRICE ACTION FORECAST

The yellow metal was able to regain a part of yesterday's losses amid rising political tensions between the US and China. Closing with a clear bullish pin bar above the support level at 1,700$ handle. Price currently trading below the 18EMA.

If the price can manage and trade above the 18EMA, it will be able to enter the market with a buy-stop order. Although MACD is showing a diminished bullish momentum, the safe-haven properties from gold might be work as the final catalyst to support the rise.

China reiterated that it would take measures on the US for the interference in the internal affairs, fueling further tensions.

S/L: 250 pip & R:R | 1:2

Trade active

Order been active since last week, already close 1/2 of the position and S/L moved to BE. Although is a risk free trade and considering to close it manually, will check price action closely today to make the decision.

Trade closed: target reached

Price correction touched S/L moved to BE

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