for comming week ,scenario on daily chart
1-switch trend on gold = gold always after crash , 2-3 day turn range then start go up to 1820
in down we have big trendline in 1740 - powerfull support in 1675 - then on weekly chart fibo 61% in 1450 $
2 in comming week if gold break low 1770 can go to 1740 (powerfull buylimit place with sl=10.00) then start powerfull trend to 1920 then 1960
take look open orders on gold futures by larg banks and fund money managers
https://prnt.sc/16te87n
they had heavy close buys ,but dont inter big sells (for this gold cant go up in 4-5 days ago,they close buys in high,couse gold be range,zigzag , this show retail traders buying ) if gold can break high and close on high ,they can start buy , personaly i think they are waiting 1740(big trend) to inter heavy buy for hold longterm to around 2000$
in down we have big trendline in 1740 - powerfull support in 1675 - then on weekly chart fibo 61% in 1450 $
2 in comming week if gold break low 1770 can go to 1740 (powerfull buylimit place with sl=10.00) then start powerfull trend to 1920 then 1960
take look open orders on gold futures by larg banks and fund money managers
https://prnt.sc/16te87n
they had heavy close buys ,but dont inter big sells (for this gold cant go up in 4-5 days ago,they close buys in high,couse gold be range,zigzag , this show retail traders buying ) if gold can break high and close on high ,they can start buy , personaly i think they are waiting 1740(big trend) to inter heavy buy for hold longterm to around 2000$
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.