praveensam001

GOLD Support & Resistance

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
Hi all !!

Good day!

It's blood in the streets. Overall markets are PANIC selling which is a BUY signal. Yet the market structure is not satisfactory to continue the BULL trend. Even after having a major drop in GOLD , there's some possibility that it may hit the resistance level plotted in the chart or it will continue to fall which is indecisive for now. But I'm expecting a major drop to the support levels drawn in the long-term.

Notable levels:
1. Current Resistance
2. Uptrend Continuation Level
3. Current Support
4. Expect bounce from this Level
5. Probable Bottom

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~RPS~

Legal disclaimer:
I am not a financial adviser. The advice here given is not a financial advice even though my excitement might make it look like such. When I say: "Buy/Sell now!" or "Do's and Don'ts" or something like that — it is my personal opinion. I do what I believe is right and at the end of the day I am just a person, not an expert. You trade at your own risk and nobody can guarantee you results. I post because I care.