Gold: Are We Ready for a Rise in the Yellow Metal?
On the 4-hour time frame, we are still waiting for gold to stabilize above $2,700. However, the pullback on Friday has increased the likelihood that gold may fail to break the $2,700 resistance again. We should wait for the market's reaction after Mr. Trump's inauguration event.
On the 4-hour chart, we are seeing a reaction to the identified supply zone. It remains to be seen whether this reaction will result in a pullback or signal the start of a new corrective wave in gold prices.
On the 4-hour chart, we are seeing a reaction to the identified supply zone. It remains to be seen whether this reaction will result in a pullback or signal the start of a new corrective wave in gold prices.
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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.