Hey folks! Glad you could be here to read this. If you read my previous update on Gold, you would have a massive smile across your face and a hefty bit of profit to enjoy too. Congrats on that front. It is time now to get to business.
Currently, the 4 hour timeframe shows that gold is already trying to bounce back up and retest the previous support level (which will now act as resistance). You can expect the prices to shoot up to $1840-ish level. This means that if you are just in time, go long! It is a perfect buying opportunity. However, just because it is one, please do not open a massive position as it can first take a dip in the opposite direction and then start its ascend. Take calculated risks.
Technical Indicators:
MACD - Strong Buy (4 hours)
CCI - Buy
Currently, the 4 hour timeframe shows that gold is already trying to bounce back up and retest the previous support level (which will now act as resistance). You can expect the prices to shoot up to $1840-ish level. This means that if you are just in time, go long! It is a perfect buying opportunity. However, just because it is one, please do not open a massive position as it can first take a dip in the opposite direction and then start its ascend. Take calculated risks.
Technical Indicators:
MACD - Strong Buy (4 hours)
CCI - Buy
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.
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.