Let's go long on GOLD
With profits of 200pips from yesterday's short to $1910, we're now long. Prices at around 1910 dollars seem like a great place to end the current correction and begin a new upward move, for the following reasons:
1) The June 2021 broken resistance high should now serve as a strong support level.
2) A 50% Fibonacci retracement of the 15th December rally is represented by 1911 dollars,
3) Levels between 1925 and 1891 represent 50% and 61.80% of the 28th January rally.
With the meeting of the Federal Reserve's Monetary Policy Committee scheduled to end today. Volatility is expected to be higher than usual, and while I expect prices to remain above the 1910 dollar mark, any quick test and a false breakout to 1890 dollars per ounce should be fine and would not change our technical view.
1) The June 2021 broken resistance high should now serve as a strong support level.
2) A 50% Fibonacci retracement of the 15th December rally is represented by 1911 dollars,
3) Levels between 1925 and 1891 represent 50% and 61.80% of the 28th January rally.
With the meeting of the Federal Reserve's Monetary Policy Committee scheduled to end today. Volatility is expected to be higher than usual, and while I expect prices to remain above the 1910 dollar mark, any quick test and a false breakout to 1890 dollars per ounce should be fine and would not change our technical view.
עסקה סגורה: היעד הושג
Gold bounced off our mentioned support after a false breakout to 1893 as mentioned, and reached our target at 2000 dollars level.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.