Yesterday gold tested the limits of its value zone and finally closed near 1822. This shows the downside momentum is still continuing which can also be confirmed from the lower highs and lower lows. The present price is very near the monthly and weekly support and has come little away from the 20/50/100/200 DEMA. So prefer buying over selling at every dip.
Chart pattern Double bottom will be formed if price tests the level of 1808. Lets see if this pattern will form or buying pressure will dominate above this.
Gold has shifted below its value zone.
Today 1835 will be key level and the important levels are 1808-1818-1825-1835-1848-1858-1868-1873
Chart pattern Double bottom will be formed if price tests the level of 1808. Lets see if this pattern will form or buying pressure will dominate above this.
Gold has shifted below its value zone.
Today 1835 will be key level and the important levels are 1808-1818-1825-1835-1848-1858-1868-1873
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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.