Gold Analysis 03.01.2022
Gold respected the resistance level of 1828 and started to retrace after touching 1830 with spikes. These minor corrections are necessary in uptrend to go higher high.
Case 1: Gold will test the 1818 level to form a low and will start to rise for new higher high. However for this 1834 level is important. If Gold is able to close above his level in 4 hours then we can expect to reach 1845 easily.
Case 2: As we can see the trendline. Gold can come to 1808 level and revert back to test the previous highs at 1828 before going to highs of 1834 and 1845.
In both cases we can go for short today with SL at 1836 and TP at 1818.
All the best for today. Please share your comments.
Case 1: Gold will test the 1818 level to form a low and will start to rise for new higher high. However for this 1834 level is important. If Gold is able to close above his level in 4 hours then we can expect to reach 1845 easily.
Case 2: As we can see the trendline. Gold can come to 1808 level and revert back to test the previous highs at 1828 before going to highs of 1834 and 1845.
In both cases we can go for short today with SL at 1836 and TP at 1818.
All the best for today. Please share your comments.
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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.