Gold is changing trend.Gold has been doing previous lower lows. Just hit 3210.00
Expecting change of trend.
Contract highlights
Gold intrday Target ₹94,340.Buy at ₹93,465, CMP ₹93,800, Target ₹94,340.
Target expected to be achieved intrday
Gold's Correction May Not be Over Yet - Here's WhyHere is my 2-minute technical take on why gold could be looking at a break below 3200 as part of a deeper correction, before it even considers resuming its almighty bullish rally.
Matt Simpson, Market Analyst at City Index and Forex.com
A Gap In gold Needs to be Filled! Price opened gaping down. Now im looking for price to fill in that gap. establishing a low for the week and continue pushing up. Possibly going for new ATHs. We have to allow Monday to play out though to see what they want to do.
Gold Should complete the Retrace before giving another DirectionWas expecting the pullback. Now I just need to wait for it to finish before trying to buy it. Price should give us a solid confirmation when its finally ready. want to see them take out some lower levels first. If price gives up a entry during Asia session we could see a nice short.
news changed things. but we still bullish on GoldPrice pushed down a bit lower but it still makes since for it to take liquidity for gaps and continue with its push. We have to wait for the killzones to give us a better idea.
Retrace Complete...but we need 1 more Sweep on Gold!This pullback is what I waited for and it took all week for it to happen. Not sure if I will get the bullish move today being that it is Friday. But if they hit the level I'm looking for I will try at least once. Keeping expectations low since its the end of the week. but things are shaping out for
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Frequently Asked Questions
The nearest expiration date for Gold Futures (Jun 2020) is Jun 26, 2020.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell Gold Futures (Jun 2020) before Jun 26, 2020.