GOLD will continue move down or back to up trend ?
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Gold is trading in a downtrend Price is based on a support level at 1795.75 Below SMA 100 and SMA 200 Above HVN at level 1778 MACD shows bearish momentum RSI is below level 50
First scenario: if price breaks support level at 1795.75 and close below it on H4 frame, it's recommended to open short trade to target support levels respectively 1748.80, 1722.50
Second scenario: if price breaks downtrendline and close above resistance level 1 at 1833.45 on H4 frame, it's recommended to open long trade to target resistance respectively 1855, 1902
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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.