Gold analysis today
GOLD
Gold price is consolidating losses in early Thursday's trading, having touched the lowest level in five months at $1,890.
GOLD
sellers are bidding time before the next push lower, as the United States Dollar (USD) continues to garner demand heading into a fresh batch of mid-tier US economic data.
Gold price extended its downside break of the all-important 200-Daily Moving Average (DMA), now at $1,906, on Wednesday, aided by a Bear Cross confirmation on the daily chart.
The downward-sloping 21 DMA cuts the 50 DMA from above on a daily closing basis, validating the bearish continuation pattern. The 14-day Relative Strength Index (RSI) is sitting just above the oversold territory, suggesting that there is more room for Gold sellers to flex their muscles.
GOLD
Gold price is consolidating losses in early Thursday's trading, having touched the lowest level in five months at $1,890.
GOLD
sellers are bidding time before the next push lower, as the United States Dollar (USD) continues to garner demand heading into a fresh batch of mid-tier US economic data. Gold price extended its downside break of the all-important 200-Daily Moving Average (DMA), now at $1,906, on Wednesday, aided by a Bear Cross confirmation on the daily chart.
The downward-sloping 21 DMA cuts the 50 DMA from above on a daily closing basis, validating the bearish continuation pattern. The 14-day Relative Strength Index (RSI) is sitting just above the oversold territory, suggesting that there is more room for Gold sellers to flex their muscles.
Trade active:
SELL GOLD 1906 - 1908
SL : 1915
TP 1: 1903
TP 2: 1900
TP 3: 1995
SL : 1915
TP 1: 1903
TP 2: 1900
TP 3: 1995
Hope you make money🔥🔥🔥