I would like to to see the yellow line, and then the red line happen, but my gut feeling tells me the blue line is stronger for an up to 2412
Technically we are still bearish. I will consider gold as bullish only if it goes above 2418.43
I will be looking for buy opportunities. Overall Gold is still in a bullish trend. To start trading bearish we need a strong daily bearish closure.
Today I will be looking for buy opportunities. Buy entries depending on retrace point confirmation and based on NFP news outcome later today
I believe we should fall to around 2420 and back up to around 2450. If we go higher than 2450, 2470 should be the next sell area
These are the buy and sell opportunities I will be looking for today
I believe we will see a repeat of yesterday. Ranging between 2400 and 2370
Downwards pressure is looking stronger currently. As a result I will be looking for sell opportunities. Sell near 2400 Sell near 2380
Price is currently already in upper 50% area or the buying pressure, and in the middle area of the selling pressure. As price moves up into the upper 50% area of the selling pressure, we could go up to 2406, 2414 and even 2428. 2414 will be an important point for either up or down again. I do not currently see it going down, but in the event it does go down...
Price is currently already in upper 50% area or the buying pressure, and in the middle area of the selling pressure. As price moves up into the upper 50% area of the selling pressure, we could go up to 2406, 2414 and even 2428. 2414 will be an important point for either up or down again. I do not currently see it going down, but in the event it does go down...
In the short term, the upwards pressure is still larger than the downwards pressure, and this can result in us seeing 2414 and even 2428 before a possible further longer term sell
I will be looking for 100pip to 200pip buying opportunities today. Entry confirmation still needed
This is my current view on the market. I am leaning towards the yellow line
Realistically this could be the rest of the week. I believe 2426 to 2435 could be a bearish turning point
DO NOT enter a trade based on this analysis, but this is my feeling for what is to come during todays news
For today, I am keeping to my analysis from yesterday. I still see a rise to around 2384 and down to 2370 in the short term
The top two red zones will be critical as sell areas. Keep an eye on them