InvestMate|Gold Rebounding From A Resistance Zone?🥇
🥇Gold Rebounding From A Resistance Zone?
🥇Post is a direct continuation of my previous post:
🥇This time we will look at gold from a slightly closer perspective and try to determine the end of the current upward correction.
🥇Looking at the behaviour of the price and the lack of strength for further increases, the most reasonable solution will be to establish a resistance zone at 0.382 of the last downward wave.
🥇There is also the 50-period moving average in that area, which can provide strong resistance.
🥇The nearest support zone is the 0.382 level of the entire upward wave from the bottom.
🥇There we can expect some kind of demand reaction.
🥇The scenario I'm playing out is a rebound from the resistance zone and a continuation of the decline to the vicinity of the support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
🥇Post is a direct continuation of my previous post:
🥇This time we will look at gold from a slightly closer perspective and try to determine the end of the current upward correction.
🥇Looking at the behaviour of the price and the lack of strength for further increases, the most reasonable solution will be to establish a resistance zone at 0.382 of the last downward wave.
🥇There is also the 50-period moving average in that area, which can provide strong resistance.
🥇The nearest support zone is the 0.382 level of the entire upward wave from the bottom.
🥇There we can expect some kind of demand reaction.
🥇The scenario I'm playing out is a rebound from the resistance zone and a continuation of the decline to the vicinity of the support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
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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.
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 t.me/Investmatez 💲
🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌🌌
Related publications
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.