Gold Trend 14/12
Gold inched higher yesterday. The price had been steadily on its way up after the market opened near day-low around 1782. The price reached day-high 1791 before the US session, and the price retraced thereafter, with the day ending near 1786.
The pattern hasn't changed much in the 1-hour chart. Overall the price is still maintaining its path within the 1770-1792 range(1), continuing to take advantage of the current stable range-bound market.
The horizontal pattern 1770-1793(2) is still dominating the daily chart. The 100 days MA remains the resistance to the upside, & the newly formed upward trendline(4) may provide support in S-T to the downside.
S-T Resistance:
1800
1792-94
1788
Market price: 1785
S-T Supports:
1778-80
1774
1768-70
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
The pattern hasn't changed much in the 1-hour chart. Overall the price is still maintaining its path within the 1770-1792 range(1), continuing to take advantage of the current stable range-bound market.
The horizontal pattern 1770-1793(2) is still dominating the daily chart. The 100 days MA remains the resistance to the upside, & the newly formed upward trendline(4) may provide support in S-T to the downside.
S-T Resistance:
1800
1792-94
1788
Market price: 1785
S-T Supports:
1778-80
1774
1768-70
If you like our work, kindly give our team a thumbs up. Feel free to leave a comment, let us know what you think!
P. To
P. To @ 1uptick Analytics
Related publications
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.