The Daily Candle shows a strong selling force breaking out of the 3-day accumulation zone. Gold touches the support zone of 3296 and bounces back as analyzed yesterday. Today, it is difficult for the bullish force to return, there is a possibility of an increase in the Asian session and the European session, and the US session will return with the Selling force.
The recovery from 3296 towards 3342, some selling force may appear around 3342, forming a strong bearish structure. The bearish wave structure will weaken if it breaks 3342. The 3363 area still has a reaction but the bearish wave structure is no longer strong.
The market closed above 3363 confirming the downtrend break and heading towards the resistance zone of 3388. The bottom support of 3302 will help to temporarily stop the price decline before heading towards the target of 3278.
Support: 3321-3302-3278
Resistance: 3342-3363-3388
Break out: 3342-3322
Recommended trading signal
BUY GOLD 3302-3300 SL 3297
SELL GOLD 3363-3365 SL 3369
The recovery from 3296 towards 3342, some selling force may appear around 3342, forming a strong bearish structure. The bearish wave structure will weaken if it breaks 3342. The 3363 area still has a reaction but the bearish wave structure is no longer strong.
The market closed above 3363 confirming the downtrend break and heading towards the resistance zone of 3388. The bottom support of 3302 will help to temporarily stop the price decline before heading towards the target of 3278.
Support: 3321-3302-3278
Resistance: 3342-3363-3388
Break out: 3342-3322
Recommended trading signal
BUY GOLD 3302-3300 SL 3297
SELL GOLD 3363-3365 SL 3369
Trade active
Support zone 3321 + 100 pips, Congratulation all
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☘️My Telegram Channel: t.me/VHTraderFX
Join me to get Trading signals, Trading knowledge for investors
Join me to get Trading signals, Trading knowledge for investors
Related publications
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.