Gold Spot / U.S. DollarUpdated Gold: Potential Reversal Zone - Selling Carries High Risk
Gold: Potential Reversal Zone - Selling Carries High Risk
From our yesterday's analysis, GOLD moved only up. Overall it was without any strong reason and it has days that continue to perform in this way.
Given that the current situation is not like 2 or 3 months ago in the Middle East and across all countries this strength is just strange. All websites are saying that the market is not clear about Trump decisions and that is why GOLD is growing.
This is not a strong reason because we have seen Trump before leading the US and nothing happened. He makes a big mess but not real damage.
It's very risky selling gold under these conditions. GOLD is very strong and in a strong bullish trend. I draw only a strong resistance zone where the price may react in order to make a correction today or a short-term bearish wave. You may use this as trading information on your side and take some profits if you have long positions or you may sell with a well-managed risk by your side.
PS: Again is very risky to sell GOLD. I placed only some calculated zones that I think the price may react and show some weakness
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
From our yesterday's analysis, GOLD moved only up. Overall it was without any strong reason and it has days that continue to perform in this way.
Given that the current situation is not like 2 or 3 months ago in the Middle East and across all countries this strength is just strange. All websites are saying that the market is not clear about Trump decisions and that is why GOLD is growing.
This is not a strong reason because we have seen Trump before leading the US and nothing happened. He makes a big mess but not real damage.
It's very risky selling gold under these conditions. GOLD is very strong and in a strong bullish trend. I draw only a strong resistance zone where the price may react in order to make a correction today or a short-term bearish wave. You may use this as trading information on your side and take some profits if you have long positions or you may sell with a well-managed risk by your side.
PS: Again is very risky to sell GOLD. I placed only some calculated zones that I think the price may react and show some weakness
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade active
Note
📣UPDATE: Gold: Potential Reversal Zone - Selling Carries High Risk
Based on our analysis from yesterday, GOLD tested the entire red zone and experienced a significant price reversal at 2882.50.
Currently, the price has dropped to 2853.40, representing a decline of nearly 1%. It appears that this downward movement may continue.
From the US, we have the same news without any significant updates, which suggests that the market might take some profits after the recent, seemingly pointless bullish wave.
Key Support Areas:
2830
2812
2786.50
P.S.: Feel free to take profits earlier if you prefer a more conservative approach and wish to minimize risk.
Note
GOLD reached 2834. Almost reached the first target
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.