Trading Signals for GOLD sell below $2,946
Early in the American session, gold was trading around 2,935, around the 21 SMS=A within the bullish trend channel forming since the beginning of February.
After having made a technical correction and reaching its high around 2,954, gold is now showing signs of a further bullish movement. We believe that if the metal consolidates above 2,933 in the next few days, we could expect it to continue rising until it reaches the 6/8 Murray located at 2,968.
The outlook could be negative below 2,946 (21 SMA) and a sharp break below the bullish trend channel could indicate a strong technical correction. if this scenario occurs, we could expect gold to fall towards 2,890. The price could even eventually fall towards the 200 EMA located at 2,845.
On daily and weekly charts, gold is showing exhaustion and overbought signs. So, we believe that any technical bounce will be seen as a signal to sell below 6/8 of Murray
After having made a technical correction and reaching its high around 2,954, gold is now showing signs of a further bullish movement. We believe that if the metal consolidates above 2,933 in the next few days, we could expect it to continue rising until it reaches the 6/8 Murray located at 2,968.
The outlook could be negative below 2,946 (21 SMA) and a sharp break below the bullish trend channel could indicate a strong technical correction. if this scenario occurs, we could expect gold to fall towards 2,890. The price could even eventually fall towards the 200 EMA located at 2,845.
On daily and weekly charts, gold is showing exhaustion and overbought signs. So, we believe that any technical bounce will be seen as a signal to sell below 6/8 of Murray
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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.
DAILY FREE SIGNAL.
FREE SIGNAL (95% accuracy ) TP AND SL PROVIDED
Public Telegram Channel
t.me/tradeaction0
VIP Telegram Channel
t.me/FxMr_Signal
FREE SIGNAL (95% accuracy ) TP AND SL PROVIDED
Public Telegram Channel
t.me/tradeaction0
VIP Telegram Channel
t.me/FxMr_Signal
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.