SL : 1323
TP : 1500
Gold prices broke out hitting fresh 18-months highs and closing near 1,359. Support is seen near the former break out level at 1,346. Resistance is seen near the 1,370-1,375 region and then 1,392, and up to 1,423. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal. The current reading on the fast stochastic is 86, above the overbought trigger level of 80, which could foreshadow a correction. The RSI (relative strength index) which is a momentum oscillator also broke out which reflects accelerating positive momentum. The current reading on the RSI is 75, above the overbought trigger level of 70, which could foreshadow a correction. The MACD histogram is printing in the black with an upward sloping trajectory which points to higher prices.
TP : 1500
Gold prices broke out hitting fresh 18-months highs and closing near 1,359. Support is seen near the former break out level at 1,346. Resistance is seen near the 1,370-1,375 region and then 1,392, and up to 1,423. Short term momentum has turned positive as the fast stochastic generated a crossover buy signal. The current reading on the fast stochastic is 86, above the overbought trigger level of 80, which could foreshadow a correction. The RSI (relative strength index) which is a momentum oscillator also broke out which reflects accelerating positive momentum. The current reading on the RSI is 75, above the overbought trigger level of 70, which could foreshadow a correction. The MACD histogram is printing in the black with an upward sloping trajectory which points to higher prices.
Trade closed: target reached
keep calm and Trade
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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.