GOLD expectations for the coming week
#Technical_Analysis
#Gold-D
About two months ago, on November 24, the price plunged sharply below the 2700 level, dropping as low as 2540. Over the past two months, market momentum has been mostly bullish, and the price has managed to climb back to the 2700 level. However, the overall trend of the chart remains bearish, with the 2720 resistance level appearing very critical and significant.
Currently, given that the trend and momentum are moving in opposite directions, it’s better to base gold trades on the analysis of lower timeframes.
#FarXpert
#Gold-D
About two months ago, on November 24, the price plunged sharply below the 2700 level, dropping as low as 2540. Over the past two months, market momentum has been mostly bullish, and the price has managed to climb back to the 2700 level. However, the overall trend of the chart remains bearish, with the 2720 resistance level appearing very critical and significant.
Currently, given that the trend and momentum are moving in opposite directions, it’s better to base gold trades on the analysis of lower timeframes.
#FarXpert
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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.